Bloomberg Intelligence analysts now say there’s a high probability that the U.S. Securities and Exchange Commission (SEC) approves exchange-traded funds (ETFs) for a whole range of altcoins. They hope to see this under completion by late 2025. Dogecoin, Cardano, Polkadot, Hedera, Avalanche—the list goes on. Analysts predict a 90% chance of approval.

Their eventual approval would offer institutional investors regulated investment products to help drive future inflows. We hope that this step will help increase the appeal and accessibility of these digital assets.

The forecast by Bloomberg analysts Eric Balchunas and James Seyffart is further evidence of increasing acceptance of altcoins by the broader financial markets. The SEC’s approval of ETFs tied to these altcoins would represent a huge victory for the broader cryptocurrency industry.

Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), Hedera (HBAR) and Avalanche (AVAX) have appeared as frontrunners to ETF approval. Though viewed as second-tier options behind Bitcoin and Ethereum, these altcoins have shown a long history of market capitalization and technological advancement.

The approval of ETFs for these altcoins could be the vehicles that bring institutional exposure to them via regulated investment products. That would likely create a major boost to adoption and legitimacy to the entire altcoin market.

Industry observers are understandably focused on the SEC’s recent position on cryptocurrency ETFs. To hear most tell it, Bitcoin ETFs have already been resounding successes. Due to its success, this paved the way for other similar products for other digital assets.