The Most Likely Crypto ETFs to Be Approved in 2025: Will Solana or XRP Take the Lead?
#Crypto # ETF $Sol
Crypto ETFs are no longer news to us.But so far, only BTC and ETH have gotten the green light.To be honest, the entire crypto community is a bit anxious - this is too limited, and ETF expansion is urgently needed.
Bitcoin ETFs were approved back in early 2024, followed quickly by ETH ETFs.And now, altcoins are finally approaching their moment of regulatory recognition.From Solana and XRP to Avalanche, DOT, and ADA, a flood of spot ETF applications has been submitted and entered the review process.
This trend not only signals that crypto assets beyond the top two are accelerating their integration into the traditional financial system, but also serves as a key indicator for investors hunting the starting point of the next bull run.
But here's the question:Which ETFs are most likely to be approved in 2025?Will the market see an "Altcoin ETF Summer"?And behind these filings, what opportunities are worth betting on?
Don't worry - let's break it all down.
Who's the Next "Bitcoin/ETH ETF"?
Unlike BTC and ETH ETFs, this year's applications are far more diverse, including:
Widely recognized L1 blockchains (SOL, ADA, DOT)
Emerging dark horses (SUI, SEI, PENGU)
Although exact approval timing is uncertain, several signals suggest for some projects, approval is only a matter of time.Below, we'll review and assess the most closely watched ETF candidates based on:
Public filing progress
Regulatory developments
Institutional strength
Market activity
Solana (SOL) - The Strongest Candidate to Lead
Solana's ETF applications are moving at breakneck speed.By mid-2025, REX, Invesco, and other firms had already submitted multiple filings, covering staking-enabled + spot-tracking dual models.More importantly, major trading and custody providers like Cboe and Coinbase have joined in, indicating that the compliance chain is essentially in place.
On the regulatory side, while the SEC has not explicitly endorsed the applications, it has repeatedly requested S-1 updates - a move widely interpreted as substantive review in progress.
Expected approval timeframe: Q3 or early Q4 2025
Market acceptance: Extremely high, especially driven by Solana's NFT, DePIN, and mobile ecosystem
Overall assessment: Currently one of the most promising ETF applications, with potential to replicate BTC ETF successXRP - A "Comeback Contender" After Policy Reversal
Once upon a time, XRP was locked out due to regulatory litigation.
But now, the landscape has changed dramatically.As Ripple's dispute with the SEC enters a settlement phase, multiple ETF versions (spot, leveraged, inverse) have launched in North America and Brazil.ProShares, Hashdex, and 3iQ have all jumped in.
Especially in Canada and Brazil, strong performance has boosted confidence that U.S. approval may follow.
Expected timeline: Roughly in parallel with Solana, or slightly later
Institutional participation: Medium-high, though not yet a unified force
Challenges: Trading volume must grow further to meet the SEC's "market integrity" thresholdPolkadot (DOT) & Avalanche (AVAX) - The Second-Tier Steady Candidates
These two projects share key traits:
Mature technology
Stable capital base
Strong institutional support
VanEck and 21Shares have submitted complete 19b-4 and S-1 filings.While the SEC has repeatedly delayed decisions, it has not issued explicit rejections.Especially AVAX - its rising DeFi TVL and ecosystem activity make it one of the most promising L1s.
Expected review window: Q4 2025
Market confidence: High (many ETF analysts estimate 80–90% success probability)
Worth noting: If the Solana ETF is approved first, it will likely pave the way for these "backup candidates."
- DOGE, ADA, LTC, HBAR - "Non-Mainstream Coins" Stepping Into the Mainstream
Don't underestimate DOGE - often dismissed as a meme coin.Its community influence and Musk's endorsement give it genuine ETF "entertainment value."
Similarly, ADA and LTC are longstanding mainstream coins.Though they've cooled off, their ETF structures are already well-developed.
All these applications have been formally accepted by the SEC and entered the standard review process.They may not break through first, but many expect a wave of smaller approvals in the second half of 2025.
Market performance: Moderate growth, no imminent breakout signals
Reference value: Useful as a sentiment thermometer for the Altcoin ETF cycle
From Experience: The ETF Effect - Is an Altcoin Bull Run Really Coming?
Based on the Bitcoin spot ETF experience, once approval comes, the market typically sees two phases of price appreciation:
Pre-approval sentiment speculation (FOMO inflows)
Post-approval fund flows driving spot liquidity tightening
This model is now being applied to altcoins:As long as the applications progress steadily, tokens like SOL, AVAX, and DOT will be seen as having real tailwinds, with capital rushing to front-run allocations.
Unlike BTC's single "digital gold" narrative, altcoin ETFs have more diverse stories, perfect for narrative-driven speculation and industry synergies:
Solana: mobile + NFTs
AVAX: gaming ecosystems
DOT: modular chain architecture
Conclusion: The ETF Approval Wave Will Be One of the Catalysts for "Accelerated Bull Markets"
Don't just stare at "has it passed or not."The ETF wave has several hidden values:
Enhanced legitimacy: The application process itself is a form of regulatory endorsement, especially for stable Layer 1 assets.
Institutional allocation opens up: ETFs let traditional finance access tokens via legacy brokerage channels, injecting fresh capital.
On-chain/off-chain integration accelerates: Some ETFs include staking rewards (like SOL staking ETFs), bringing Web3 mechanisms directly into traditional asset management.
Speculative derivatives will grow: Expect more inverse ETFs, 2x ETFs, and a booming options market around these products.
Final Thoughts: The Long-Term Logic Behind the ETF Wave Is "Crypto Normalization"
We can think of ETFs as bridges between the crypto world and traditional finance.As more tokens become legally accessible via ETFs, the valuation framework for all crypto assets will be redefined.Not every altcoin deserves an ETF.
But any coin that makes it onto an application shortlist has already demonstrated:
Mature custody solutions
Active trading liquidity
Robust risk disclosures
This is the ETF's hidden selection process:It's quietly assembling the core roster of next-cycle value assets.So if you're still asking:"Is this coin worth buying?"
You might be better off reframing the question:"Does this coin have an ETF application? How far along is it? Who submitted it?"
