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)

In the USA, a race has broken out to see which popular cryptocurrencies will be tradeable as ETFs (Exchange-Traded Funds) the fastest.

Following the successful launch of Bitcoin Exchange-Traded Funds (ETFs) in the United States, applications have been filed with the authorities for nearly half a dozen altcoins, including Solana, XRP (Ripple), Dogecoin, Litecoin and Hedera (HBAR).

In the wake of the Bitcoin ETFs, which debuted in January 2024 and have since attracted almost $40 billion in capital inflows, a race has begun among popular cryptocurrencies to become available for trading as ETFs on traditional stock exchanges in the USA.

Solana, XRP (Ripple), Litecoin (LTC), Hedera (HBAR) and Dogecoin (DOGE) are among the candidates for which applications for the “green light” for ETFs have already been submitted to the relevant US authorities. However, according to experts, the individual chances differ significantly.

Solana ETFs: Being a favorite of Americans, SOL naturally has big names like VanEck from the financial and crypto industry trying to get permission for ETFs. But so far, the SEC has blocked these attempts.

Now the SEC is being restructured at the behest of the new US President Donald Trump, which could also lead to a concession for crypto ETFs.

However, the situation with Solana is more 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 maintains 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.

Litecoin ETFs: Being a technological variation of Bitcoin, LTC has probably 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.

(Featured image by viarami via Pixabay)

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