Trump Directs the Creation of a Cryptocurrency Reserve Including XRP, SOL, and ADA, Boosting the Crypto Market

On March 2, Trump made a statement regarding cryptocurrency reserves, indicating that his digital asset executive order directs the presidential task force to advance a crypto strategic reserve that includes XRP, SOL, and ADA, "ensuring that the U.S. becomes the world crypto center."

Author: Nianqing, ChainCatcher

On March 2, Trump made a statement regarding cryptocurrency reserves, indicating that his digital asset executive order directs the presidential task force to advance a crypto strategic reserve that includes XRP, SOL, and ADA, "ensuring that the U.S. becomes the world crypto center." Trump later added that BTC and ETH are also included in the reserves.

Following the announcement, the five assets mentioned by Trump saw significant increases, providing a boost to the continuously declining crypto market.

Related Reading: “Trump ‘saves the market’, a look at this week's most關注的 'macro events' and 'U.S. coins'”

In addition to the already listed BTC and ETH spot ETFs, the approval and advancement of ETFs for "U.S. coins" like XRP, SOL, and ADA may also enter a period of acceleration.

At the beginning of this year, with the new government in power, the U.S. Securities and Exchange Commission announced the establishment of a new cryptocurrency task force led by Commissioner Hester Peirce, which insiders view as a gateway to updated regulations and more cryptocurrency fund approvals. This could accelerate the approval of a broader range of cryptocurrency ETFs, including SOL, XRP, LTC, DOT, and DOGE, thus continuously heating up the crypto ETF market.

Altcoins are about to see a new wave of applications and listings. Currently, multiple entities are applying for spot ETFs for assets such as SOL, XRP, LTC, DOT, ADA, TRUMP, DOGE, HBAR, and APTOS.

Latest Altcoin (excluding ETH) Spot ETF Application Dynamics and Key Timelines

Note: The “Next SEC Review Date” and “SEC Final Decision Date” in the above image are estimated based on the submission date of the 19b-4 and the 240-day review cycle. The SEC may approve, reject, or extend the review period ahead of time. It is recommended to closely monitor official SEC announcements for the latest developments.

1. Solana

The Solana ETF is the most anticipated and currently the fastest progressing after Bitcoin and Ethereum ETFs, having entered the application stage in the second half of last year. On February 6, the SEC officially acknowledged Grayscale's submitted Solana 19b-4 document, as previously, the SEC led by Gary Gensler had requested the Chicago Board Options Exchange to withdraw the Solana ETF 19b-4. Bloomberg analyst Eric Balchunas stated that this is the first time an ETF filing tracking tokens previously referred to as “securities” has been acknowledged by the SEC.

The SEC's confirmation of Grayscale's application was on February 6, while applications from several other companies were confirmed after February 11. From the date the federal register was published on February 18, the SEC has 45 days (until March 14) to provide a preliminary response. However, the industry generally expects the SEC to utilize the full 240-day review period, giving a final decision by October 16.

2. Ripple

Currently, multiple entities are applying for the XRP ETF, with Grayscale's application officially confirmed by the SEC and entering the formal review stage.

The SEC had previously classified XRP as an unregistered security, and the case between Ripple and the SEC is currently in the appeals stage. However, with the new government in power, it is likely that the previous ruling, which stated that XRP is not an unregistered security, will continue. Nonetheless, this case will still affect the review progress of the XRP ETF.

3. Dogecoin

Grayscale's Dogecoin spot ETF application has been confirmed by the SEC, with a review period of 240 days from the date of publication in the federal register, and an expected decision date around October 2025. Currently, Grayscale's application is the fastest. Bitwise submitted an S-1 registration application on January 28, 2025, but has not yet submitted the 19b-4 document. REX Shares and Osprey Funds also submitted applications in January 2025, but are similarly in the early stages.

Dogecoin's status as a meme coin may pose obstacles for institutional investors. Additionally, Bitwise recently registered a Doge ETF in Delaware in January but has not yet submitted relevant documents to the SEC.

4. Litecoin

On October 15, 2024, Canary Capital submitted the first S-1 registration application for a Litecoin spot ETF, followed by the submission of the 19b-4 document to Nasdaq on January 15, 2025. The SEC confirmed this application on January 29, 2025, with a review period of 240 days, and the expected deadline is October 2025. This will also be the fastest application for a Litecoin spot ETF.

5. Polkadot

Currently, mainly Gra