- Solana, XRP, and Cardano are emerging as top contenders for the next wave of crypto ETFs, with multiple firms filing applications and SEC reviews underway.
- Analysts expect potential approvals as early as July 2025, marking a major step toward mainstream adoption of altcoins.
Solana ETF Inches Closer to Launch
Solana is at the forefront of the ETF spotlight, with seven major institutions—including VanEck, Fidelity, and Grayscale—filing proposals. Recent developments suggest the U.S. SEC has requested all applicants to update their S-1 forms within a week, signaling that approvals may arrive as early as July 2025. Analysts like Eric Balchunas now place Solana ETF approval odds as high as 90%, especially with SOL futures already trading on the CME.
XRP ETF Faces Crucial SEC Deadlines
Interest in an XRP ETF has surged, with nine firms—including Bitwise, WisdomTree, and Franklin Templeton—already filing applications. SEC decisions are expected soon, with deadlines for Franklin Templeton and ProShares approaching on June 17 and June 25, respectively. Analyst sentiment remains optimistic, backed by XRP’s 1,300% surge in payment volume. However, the final decision may depend on the outcome of Ripple’s legal battle with the SEC, with Judge Torres’ ruling pending.
Cardano Trails but Gains Market Confidence
Cardano (ADA) may be behind in terms of ETF filings, with only Grayscale submitting a proposal to convert its trust into a spot ETF. Still, ADA is gaining traction, with Bloomberg analysts estimating approval odds at 80%. Despite a 21% drop in Cardano’s price over the past month, approval of an ETF could drive significant market recovery and push ADA toward the $1 mark.
The race for ETF approval signals a seismic shift in crypto investing. If approved, Solana, XRP, and Cardano ETFs could unlock massive retail and institutional interest. As regulatory reviews progress, 2025 could mark the dawn of an altcoin ETF
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