The cryptocurrency market is building momentum, recovering from the recent downtrend. This has been so since the start of September, as market movements in both directions have increasingly affected leveraged traders.
However, Bloomberg’s senior ETF analyst Eric Balchunas believes October will be “wild.” The prominent market commentator did so in his recent X post, highlighting the fast-approaching deadline for the approval of the XRP and Solana spot ETF.
“Who’s ready for Cointober? Spot crypto ETF Deadlines start this week!” Balchunas said in his Monday tweet. He added that it would be a “wild month” for the crypto space.
XRP and Solana ETF Approval Deadline
For the uninitiated, the US Securities and Exchange Commission (SEC) has deadlines on different days in October to decide on several crypto ETFs. This would be decisive for the digital asset ecosystem, as it would mark the start of a fresh influx of liquidity from the traditional financial system, extending beyond Bitcoin and Ethereum.
Meanwhile, the decision will start as early as this week, according to the Bloomberg analyst. A shared chart indicates that regulators will either approve or deny the Litecoin spot ETF applications submitted by asset managers Canary Capital, Grayscale, and Coinshares on October 2.
The deadlines for Solana and XRP ETFs would follow suit, with decisions due on October 10. For SOL XRP ETFs, Grayscale, VanEck, Bitwise, Fidelity, and Franklin Templeton have all applied. The same asset managers have also applied for the XRP ETF, except for VanEck, with the addition of Canary Capital, 21Shares, and WisdomTree.
100% Chance of Approval?
Remarkably, the Bloomberg Terminal reports that the ETFs have a 95% chance of approval, indicating that analysts are very optimistic that the products will likely receive a nod from the US SEC.
Balchunas even insisted that the odds are actually 100%. He cited the recent removal of the 19b-4 application standard and recent progress between applicants and the US SEC as reasons for his conviction.
Honestly the odds are really 100% now. Generic listing standards make the 19b-4s and their “clock” meaningless. That just leaves the S-1s waiting for formal green light from Corp Finance. And they just submitted amendment #4 for Solana. The baby could come any day. Be ready. https://t.co/5JtfTm82Wi
— Eric Balchunas (@EricBalchunas) September 29, 2025
If approved, many believe it could be massive for these cryptocurrencies. A similar product launch saw Bitcoin rally over 100%, with Ethereum also receiving a huge boost following improved user traction.
Evans Kelvin
