Bloomberg ETF analyst Eric Balchunas believes the U.S. Securities and Exchange Commission (SEC) is likely to approve a wave of new crypto exchange-traded funds (ETFs), including those tied to Solana, Dogecoin, XRP, and HBAR.

Speaking with TheStreet Roundtable host Scott Melker, Balchunas estimated the odds of approval for these ETFs at over 75%. “We’re really bullish on Solana, HBAR, and even Dogecoin,” he said. “Honestly, based on how the SEC has dropped all these lawsuits — and I heard the one with Ripple is pretty much being negotiated now — once those get dropped, the security thing doesn’t mean anything.”

Balchunas pointed out that some of these tokens are reportedly part of the U.S. government's strategic stockpile, which could make it harder for regulators to deny their approval. “It would be weird if you were to dub them not a good investment for retail when it’s part of the stockpile,” he noted.

However, he cautioned that approvals won’t come immediately. “We’re probably not going to see anything until Atkins is confirmed and in the job for a little bit. I would look for an interesting summer,” he said, referring to the expected confirmation of a new SEC commissioner. “If you and I talked again in the dead middle of the summer, we’d have a much more concrete vision on what we’re going to see.”

Despite his optimism for new ETFs, Balchunas was skeptical about their market impact. “All of those combined, including Ether, probably would be lucky to get 20% of the category’s assets,” he predicted. “I think spot Bitcoin in particular is just by far the dominating investment in that area, and it will continue to be.”

Comparing Bitcoin to other assets, he said, “Bitcoin is your digital gold. Although it moves, it’s a lot more volatile, but let’s say I see it as digital gold. The other ones are all like single stock bets, tech bets.”

He also predicted that meme coins could shake up the ETF market. “There’s a Melania coin, Trump coin, Bonk coin… There’ll be some sideshows, but all this will just be media fodder for the most part,” he said. “At the end of the day, man, nothing’s going to beat that spot Bitcoin ETF that’s cheap, low cost, and no friction.”