On January 20, 2025, due to Trump's ascension to power and his favorable attitude towards cryptocurrencies, along with the resignation of SEC Chairman Gary Gensler on the same day, the regulatory environment for cryptocurrencies in the U.S. may become clearer and more favorable. This could accelerate the approval process for ETFs, making the approval of more cryptocurrency ETF applications inevitable.

The Chicago Board of Trade (CBOT) recently submitted four applications for Solana ETFs. If the SEC formally accepts them, the expected final approval deadline is in early August 2025.

In addition to Bitcoin and Ethereum, the following cryptocurrencies are also awaiting ETF approval:

Solana ETF:

Canary Capital, 21Shares, Bitwise, and VanEck are seeking approval.

XRP ETF:

Canary Capital, Bitwise, and 21Shares have submitted applications.

Litecoin ETF:

Canary Capital has submitted an application.

HBAR ETF:

Canary Capital has submitted an application.

Bitwise has submitted 10 cryptocurrency index ETFs to the U.S. Securities and Exchange Commission (SEC), including: Bitcoin (btc)

Ethereum (eth)

Solana (sol)

XRP (xrp)

Cardano (ada)

Uniswap (uni)

Polkadot (dot)

Chainlink (link)

Avalanche (avax)

Bitcoin Cash (bch)

Crypto News Related to ETFs:

ETF Store President Nate Geraci stated on November 21 that there are reports that at least one issuer is also attempting an ETF application for ADA (Cardano) or AVAX (Avalanche).

The ETF Store President Nate Geraci stated: 'I believe the likelihood of a Solana ETF being approved by the end of next year is very high. The SEC is likely currently in discussions with issuers about this product, which is an obviously positive signal.'

Bloomberg Senior ETF Analyst Eric Balchunas stated that the likelihood of applying for a Dogecoin spot ETF is increasing. He mentioned that December 31 is a possible application date, partly because of the growing popularity of the currency and its community. Although Dogecoin (DOGE) is a meme coin, it has a significant market cap and currently ranks seventh among the largest cryptocurrencies.

On November 26, Bloomberg ETF Analyst James Seyffart's latest report indicated that the approval decisions for altcoin ETFs such as SOL, XRP, LTC, and HBAR may extend until the end of 2025. Unlike the approved Bitcoin and Ethereum ETFs, these altcoins lack support from regulated futures markets like CME.

Although WisdomTree and 21Shares have submitted applications for an XRP ETF, current regulations still do not allow its listing until issues of market manipulation, custody, and other compliance matters are resolved. Seyffart also stated that the new SEC leadership in 2025 might be more friendly towards cryptocurrencies, which may allow ETF products to incorporate staking features at that time.

On November 26, FOX reporter Eleanor Terrett posted on social media that the global ETF provider WisdomTree has registered an XRP ETF in Delaware. I have confirmed with the company that this is a legitimate filing.

On November 29, Bloomberg ETF Analyst Eric Balchunas stated that unless a major crash occurs, the anticipated altcoin-related ETFs waiting for approval will make the cryptocurrency space 'quite crazy.'

He mentioned that within the next 12 months, there are 14 altcoin-related ETFs awaiting approval from the U.S. SEC, including funds offering exposure to SOL, XRP, HBAR, LTC, asset baskets, as well as BTC and ETH.

Furthermore, Balchunas expects the number of altcoin ETF applications to double in the next two months.

Recent Bitcoin and Ethereum ETP filings submitted by well-known companies such as the New York Stock Exchange Arca, Hashdex's revised S-1 Nasdaq cryptocurrency index U.S. ETF, and Grayscale's bid to include altcoins like Solana and Avalanche in its digital large-cap fund highlight the industry's development.

Additionally, Franklin Templeton is entering the field through a proposed ETF tracking Bitcoin and Ethereum, reflecting institutional interest in diversified crypto investment options.

These developments signify a transformative phase for the U.S. market as regulators are considering the future of cryptocurrency ETFs.

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