ETF Floodgates Open: Trump Era Sparks Avalanche of Crypto ETF Filings as Polymarket Bets Signal Mainstream Adoption Surge

Hong Kong, March 24, 2025 – The cryptocurrency landscape is undergoing a seismic shift, propelled by a surge in applications for alternative crypto asset Exchange-Traded Funds (ETFs)

Hong Kong, March 24, 2025, Chain News – The cryptocurrency landscape is quickly evolving, and the U.S. Securities and Exchange Commission’s (SEC) approval of both Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs) earlier this year has set the stage for an interesting development. Following the introduction of these flagship cryptocurrency ETFs, there’s been a surge in applications for alternative crypto asset ETFs, hinting at a broader shift in investment strategy and regulatory oversight.

After President Donald Trump’s return to office and the SEC’s approval for spot Bitcoin ETFs in January 2025, a move that was closely followed by the greenlight for Ethereum ETFs in July, the door opened for a wave of ETF applications. These applications, spanning various cryptocurrencies like XRP, Litecoin (LTC), Hedera (HBAR), Solana (SOL), Cardano (ADA), Move (MOVE), Aptos (APT), Polkadot (DOT), and Sui (SUI), are now swiftly accumulating at the SEC.

This shift began after the SEC, in January 2024, finally approved futures ETFs for Bitcoin, setting the stage for a seven-month saga that culminated in the approval of spot Bitcoin ETFs in July 2024.

The SEC’s approval for spot Bitcoin ETFs was crucial. Despite applications from firms like Grayscale and VanEck over the past few years, the SEC, under former President Joe Biden’s administration, consistently delayed these filings, often seeking more time to review them.

However, President Trump’s return to the White House brought a new chapter. In January 2024, the SEC approved the first two spot Bitcoin ETFs, setting the stage for a rapid sequence of approvals for Ethereum ETFs in July 2024.

This shift sparked a surge in applications for alternative crypto asset ETFs, hinting at a broader shift in investment strategy and regulatory oversight.

With the SEC now processing applications for IXRP-spot ETFs following the dismissal of its lawsuit against Ripple Labs, optimism is growing. Polymarket, a prominent crypto betting platform, allows users to wager on the likelihood of various events, offering a unique window into the collective sentiment within the cryptocurrency community.

The betting odds on Polymarket for an XRP-spot ETF approval by 2025 have risen to 87%, the highest confidence level since the inception of this particular bet. This optimism follows the SEC’s recent move to dismiss its lawsuit against Ripple Labs, paving the way for a smoother path toward XRP-spot ETF approval.

Moreover, Polymarket wagers suggest a 61% chance of a Cardano (ADA) ETF approval in 2025, closely tied to Grayscale’s recent application for a spot ADA ETF.

Litecoin (LTC) is also drawing interest on the platform, with a $33,577 stake indicating a 68% chance of its ETF approval as of March 23. Several firms, including Coinshares, Canary Capital, and Grayscale, are applying for an LTC product.

The Solana (SOL) ETF proposal has the biggest backing on Polymarket, with a staggering $104,793 stake suggesting an 87% likelihood of approval. A multitude of financial giants, including Vaneck, Grayscale, 21shares, Bitwise, Franklin Templeton, and Canary, are vying to launch a SOL ETF.

However, there are currently no active bets for DOT, HBAR, MOVE, APT, or SUI ETFs on the prediction marketplace. This absence of betting activity may reflect a lack of widespread confidence in the imminent approval of ETFs for these particular assets. Several factors could contribute to this lack of betting activity, including regulatory uncertainties, perceived lack of institutional interest, or concerns about the underlying fundamentals of these projects.

Despite this, the absence of bets does not necessarily preclude the possibility of future ETF approvals, as market sentiment can shift rapidly. For instance, earlier this year, there were no active bets on a Bitcoin ETF, but that changed quickly with the approval of the first two products from Bitcoins Union and Shapeshift.

The approval of Bitcoin and Ethereum ETFs earlier this year has opened the door for institutional investors to participate in the cryptocurrency market through regulated and accessible products. This increased accessibility is poised to attract a wave of institutional capital, further legitimizing the cryptocurrency asset class.

Earlier this year, the U.S. Securities and Exchange Commission (SEC) approved the first two spot Bitcoin ETFs, setting the stage for a rapid sequence of approvals for Ethereum ETFs in July 2024.

Prior to this, the SEC had only approved futures ETFs for Bitcoin, a product that tracks the cryptocurrency indirectly through futures contracts. However, institutional investors had long sought an ETF that would directly follow the price of Bitcoin, providing them with a familiar investment vehicle to gain exposure to the cryptocurrency market.

After several years of applications and denials, the SEC finally