Altcoin ETFs on the Rise: XRP, Dogecoin, Solana, and More Await SEC Approval

The success of Bitcoin ETFs is calling for imitators: applications have been submitted to the US authorities for around half a dozen altcoins, including Solana, XRP (Ripple), Dogecoin, Litecoin and Hedera (HBAR). What are the chances?

In the USA, a race has broken out to see which popular cryptocurrencies will be tradeable as ETFs (Exchange-Traded Funds) the fastest. The role model is the Bitcoin ETFs , which made their debut in January 2024 and have since recorded almost $40 billion in capital inflows.

A handful of altcoins are now hoping for such effects: Applications for the “green light” for ETFs have already been submitted to the relevant US authorities for Solana (SOL) , XRP (Ripple), Litecoin (LTC), Hedera (HBAR) and Dogecoin (DOGE). According to experts, the individual chances differ significantly.

Solana ETFs: SOL is a favorite of Americans and accordingly big names like VanEck from the financial and crypto industry are trying to get permission for ETFs. The SEC has so far blocked these attempts. Now the SEC is being restructured at the behest of the new US President Donald Trump , which could also mean a concession for crypto ETFs.

However, the situation with Solana is complicated:

In lawsuits against crypto exchanges, the SEC has singled out Solana as an example of the fact that many altcoins should actually be classified as securities. As long as the SEC sticks to this assessment for Solana, the way is also blocked for SOL ETFs. Bloomberg expert James Seyffart recently said in an interview that Solana ETFs in 2026 are realistic and that for earlier dates the SEC would have to bring itself to reassess the content of SOL.

• XRP ETFs: Ripple has been in a legal dispute with the SEC since December 2020, but has already celebrated two successes in court. This has put the stock exchange regulator under pressure, with 21Shares and Canary, among others, wanting to place XRP ETFs. The SEC is expected to deal with applications for Ripple ETFs in January and could demonstrate a change of course. In the best case scenario, XRP ETFs would then be possible as early as spring.
• Dogecoin ETFs: DOGE is the number one meme coin in the world and is under the unofficial patronage of “Dogefather” Elon Musk . Rex Shares is using a strategy for its application for a DOGE ETF that, according to Bloomberg specialist Eric Balchunas, allows for an accelerated process. This could mean approval and start of trading for Dogecoin ETFs as early as the beginning of April, says Balchunas. In addition, Bitwise is doing preliminary work for a later conversion into a DOGE ETF with a Dogecoin Fund in the US state of Delaware.
• HBAR ETFs: Hedera has not yet come under the SEC’s scrutiny, so Canary’s application for an HBAR ETF is considered to have good chances. Expert Balchunas sees Hedera ETFs well ahead in the race for quick approval . The question, however, is whether there is actually greater demand for an HBAR ETF for this second-tier altcoin.

Litecoin ETFs: LTC is a technological variation of Bitcoin and is probably why it has not been bothered by the SEC so far. This should help applications for Litecoin ETFs from CoinShare and Canary, for example. Greyscale also wants to convert an existing LTC fund into an ETF. Bloomberg sees Hedera and Litecoin ETFs as the ones that are currently ahead in the race for time.

Even the TRUMP meme coin and BONK can hope for ETFs, Rex Shares has submitted applications. If everything goes smoothly, BONK ETFs and TRUMP ETFs could be approved as early as April through an accelerated process, according to Bloomberg.

Conclusion: Wave of crypto ETFs expected in 2025 – demand overestimated?

Despite all the euphoria about probably soon seeing a whole range of cryptocurrencies as ETFs on traditional stock exchanges, it should not be forgotten that Ethereum ETFs have so far fallen short of expectations and the current candidates are therefore not a sure-fire success.

The major bank JPMorgan has made forecasts for XRP ETFs and Solana ETFs, each predicting a capital inflow of between three and eight billion US dollars in the first year. This would put them roughly on a par with the Ethereum ETFs. But that is still a long way off and the ball is in the SEC’s court.

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(Featured image by viarami via Pixabay)

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