Bloomberg ETF analyst Eric Balchunas has stated that the approval probability for crypto spot ETFs has "virtually reached 100%." According to Balchunas, the newly introduced universal listing standards have rendered the 19b-4 process and its approval timeline obsolete. The only remaining step is for the S-1 filings to receive formal clearance from the SEC's Division of Corporation Finance. Notably, the Solana ETF's S-1 has reached its fourth amendment, indicating that approval could be imminent.