The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Covering altcoins, meme coins, and even NFTs. This year and next, funds for cryptocurrencies like Litecoin, XRP, Solana coins, Dogecoin, and more may emerge, significantly expanding the influence of crypto assets in the traditional market.

Author: Coingecko

Compiled by: Felix, PANews

With a more crypto-friendly U.S. government taking office and the departure of SEC Chairman Gary Gensler, asset management companies are now launching a broader range of Exchange Traded Funds (ETFs), covering altcoins, meme coins, and even NFTs.

Key Points

• BTC and ETH spot ETFs have attracted billions in institutional capital inflows, legitimizing cryptocurrencies in TradFi.

• Asset management companies are actively applying for ETFs covering Solana, XRP, Litecoin, Cardano, etc.

• ETFs for meme coins like DOGE, TRUMP, BONK, and PENGU have also been filed.

• Both Bloomberg and Polymarket estimate the chances of approval for assets like SOL, XRP, and LTC are between 75% and 90%, while the chances for meme-based funds like SUI, APT, and meme coins are very low.

• There is a divide in the crypto space. From liquidity to the preference for L1, opinions vary. But if there's one thing that unites all crypto enthusiasts, it's the hope for mainstream acceptance of cryptocurrencies.

Between 2024 and 2025, as crypto ETFs gain approval and rapidly expand, the dream of mainstream acceptance of cryptocurrencies has taken a huge step forward.

For the first time, investors can directly invest in various digital assets through traditional brokerage accounts, without the complexity of crypto wallets or exchanges.

Institutional investors who were previously hesitant due to regulatory uncertainty poured billions into Bitcoin and Ethereum ETFs within weeks of their launch. Its impact was immediate. Bitcoin prices soared to new all-time highs, and Ethereum ETFs were quickly approved as well. These ETFs provided traditional financial participants with more convenient investment channels and deeper market liquidity. This also set a precedent for the regulatory approval of other cryptocurrency ETFs.

Now, with Gary Gensler stepping down as SEC Chairman and the U.S. being governed by a more crypto-friendly administration, asset management companies are taking this opportunity to apply for more altcoin ETFs, such as Solana and Ripple, and even meme coins like Dogecoin (Dogecoin), BONK, and Trump Memecoin.

This article provides a comprehensive overview of the current status of the cryptocurrency ETF craze.

Bitcoin ETFs Set the Market Foundation

For a long time, Bitcoin has been the representative of cryptocurrencies, and in 2024, with the approval of the first U.S. spot Bitcoin ETFs, Bitcoin officially entered the mainstream financial system. Although Bitcoin futures ETFs have existed since 2021, the launch of spot ETFs was a watershed moment because investors could directly hold actual Bitcoin assets, not derivatives.

Within just a few days of going live, spot Bitcoin ETFs attracted billions in capital inflows. This influx greatly increased Bitcoin's liquidity and solidified its status as a legitimate asset class alongside traditional commodities like gold.

As multiple asset management companies have launched competitive Bitcoin ETFs, the market quickly became a battleground for investors. Although Fidelity's iShares Bitcoin Trust Fund dominated early capital inflows, companies like Fidelity, ARK Invest, and VanEck also gained substantial participation.

As of 2025, several major asset management companies have launched spot Bitcoin ETFs. Here are the main funds and their Bitcoin holdings details.

The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Source: Blockworks Bitcoin ETF Tracker

Key Differences Between Futures Bitcoin ETFs and Spot Bitcoin ETFs:

• Futures Bitcoin ETFs (e.g., BITO): Hold Bitcoin futures contracts on the Chicago Mercantile Exchange, not actual Bitcoin. Due to contract expiration, tracking errors can occur.

• Spot Bitcoin ETFs (e.g., IBIT): Directly hold Bitcoin, accurately tracking Bitcoin's market price.

Ethereum ETFs

Following the success of Bitcoin ETFs, the next major milestone in the cryptocurrency ETF space is the launch of Ethereum ETFs. Although Ethereum is often seen as "digital silver" to Bitcoin's "digital gold," it is the backbone of the DeFi and smart contract ecosystem.

Initially, regulatory bodies were hesitant to approve Ethereum ETFs. With the SEC's approval of spot Bitcoin ETFs in early 2024, Ethereum's path became clearer.

By May 2024, several Ethereum futures ETFs had received regulatory approval, marking another watershed in cryptocurrency adoption. Spot Ethereum ETFs were approved in July 2024. In the months leading up to approval, Ethereum's price broke through the $4,000 mark, mirroring Bitcoin's earlier surge.

As of 2025, Ethereum spot ETFs collectively hold a large amount of Ethereum, making it one of the largest institutional investment tools for the asset.

The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Source: Blockworks Ethereum ETF Tracker

At the time of writing, nearly 3 million ETH is held by ETFs, with institutional participation in ETH reaching new highs.

The Altcoin ETF Season Is Coming

With spot Bitcoin and Ethereum ETFs now firmly established, asset management companies have turned their attention to a broader range of the cryptocurrency ecosystem.

Encouraged by the increasingly open attitude of the U.S. SEC towards cryptocurrencies and the continuous improvement of market regulatory structures, asset management companies have applied for a batch of altcoin ETFs. These proposals aim to attract investors to popular tokens like Litecoin, XRP, Solana, Dogecoin, Cardano, and more.

Although no altcoin ETF has been approved in the U.S. yet, several are in active review, and the regulatory stance is changing. Analysts and industry insiders believe that once the first is approved, others will quickly follow. This is very similar to the domino effect that occurred with Bitcoin and Ethereum approvals.

Solana (SOL) ETF

Solana has surged in popularity over the past year, becoming one of the top candidates for an altcoin ETF. With its robust DeFi ecosystem, Solana is seen as Ethereum's strongest competitor in the smart contract space.

However, a key regulatory hurdle remains: whether Solana is considered a security. Ongoing litigation and classification disputes may delay the U.S. SEC's decision. Nonetheless, the infrastructure is already in place - DTCC (Depository and Clearing Corporation) has listed two Solana futures ETFs (SOLZ, SOLT), and the Chicago Mercantile Exchange is preparing for SOL futures contracts in 2025.

VanEck Solana Trust Fund

Submission Date: June 2024

Details: VanEck has filed a Form S-1 registration statement with the U.S. SEC, planning to launch a Solana spot ETF, aiming to directly track the price of SOL. This is the first application for a Solana spot ETF in the U.S.

21Shares Core Solana ETF

Submission Date: June 2024

Details: Following VanEck's lead, 21Shares has filed an S-1 document with the U.S. SEC, applying for a Solana spot ETF, which will be listed on the Cboe BZX exchange.

Bitwise Solana ETF

Submission Date: November 2024

Details: Bitwise initially applied to establish a legal trust for the Solana ETF in Texas, then withdrew the application and resubmitted an S-1 document to the U.S. SEC.

Grayscale Solana ETF (Spot ETF Conversion)

Submission Date: January 2025

Details: Grayscale has filed an application with the U.S. SEC to convert its existing Solana Trust (GSOL) into a spot ETF and list it on the New York Stock Exchange Arca. The application is based on its $1.34 billion asset management trust.

Canary Solana ETF

Submission Time: End of 2024 to early 2025

Details: Canary Capital has filed an S-1 document with the U.S. SEC for a Solana spot ETF. Amid the rising interest in altcoin ETFs following Trump's election victory.

Franklin Templeton Solana ETF

Submission Time: March 2025

Details: Managing over $1.5 billion in assets, Franklin Templeton has filed an S-1 and Form 19b-4 with the U.S. SEC, planning to launch a spot Solana ETF on the Chicago Board Options Exchange BZX, making it the sixth major institution applying for a U.S. spot SOL ETF.

According to Bloomberg industry research analyst, the chances of Solana ETF approval are high (75%).

Potential Impact: Analysts expect that if the ETF is approved, it will bring in $3 billion to $6 billion in capital inflows.

XRP (Ripple) ETF

XRP faces a unique challenge: legal status. Although Ripple won a partial legal victory in 2023, the U.S. SEC's final stance on whether XRP is a security remains unclear. However, a large number of related filings submitted at the beginning of 2025 indicate optimism

The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Covering altcoins, meme coins, and even NFTs. This year and next, funds for cryptocurrencies like Litecoin, XRP, Solana coins, Dogecoin, and more may emerge, significantly expanding the influence of crypto assets in the traditional market.

Author: Coingecko

Compiled by: Felix, PANews

With a more crypto-friendly U.S. government taking office and the departure of SEC Chairman Gary Gensler, asset management companies are now launching a broader range of Exchange Traded Funds (ETFs), covering altcoins, meme coins, and even NFTs.

Key Points

• BTC and ETH spot ETFs have attracted billions in institutional capital inflows, legitimizing cryptocurrencies in TradFi.

• Asset management companies are actively applying for ETFs covering Solana, XRP, Litecoin, Cardano, etc.

• ETFs for meme coins like DOGE, TRUMP, BONK, and PENGU have also been filed.

• Both Bloomberg and Polymarket estimate the chances of approval for assets like SOL, XRP, and LTC are between 75% and 90%, while the chances for meme-based funds like SUI, APT, and meme coins are very low.

• There is a divide in the crypto space. From liquidity to the preference for L1, opinions vary. But if there's one thing that unites all crypto enthusiasts, it's the hope for mainstream acceptance of cryptocurrencies.

Between 2024 and 2025, as crypto ETFs gain approval and rapidly expand, the dream of mainstream acceptance of cryptocurrencies has taken a huge step forward.

For the first time, investors can directly invest in various digital assets through traditional brokerage accounts, without the complexity of crypto wallets or exchanges.

Institutional investors who were previously hesitant due to regulatory uncertainty poured billions into Bitcoin and Ethereum ETFs within weeks of their launch. Its impact was immediate. Bitcoin prices soared to new all-time highs, and Ethereum ETFs were quickly approved as well. These ETFs provided traditional financial participants with more convenient investment channels and deeper market liquidity. This also set a precedent for the regulatory approval of other cryptocurrency ETFs.

Now, with Gary Gensler stepping down as SEC Chairman and the U.S. being governed by a more crypto-friendly administration, asset management companies are taking this opportunity to apply for more altcoin ETFs, such as Solana and Ripple, and even meme coins like Dogecoin (Dogecoin), BONK, and Trump Memecoin.

This article provides a comprehensive overview of the current status of the cryptocurrency ETF craze.

Bitcoin ETFs Set the Market Foundation

For a long time, Bitcoin has been the representative of cryptocurrencies, and in 2024, with the approval of the first U.S. spot Bitcoin ETFs, Bitcoin officially entered the mainstream financial system. Although Bitcoin futures ETFs have existed since 2021, the launch of spot ETFs was a watershed moment because investors could directly hold actual Bitcoin assets, not derivatives.

Within just a few days of going live, spot Bitcoin ETFs attracted billions in capital inflows. This influx greatly increased Bitcoin's liquidity and solidified its status as a legitimate asset class alongside traditional commodities like gold.

As multiple asset management companies have launched competitive Bitcoin ETFs, the market quickly became a battleground for investors. Although Fidelity's iShares Bitcoin Trust Fund dominated early capital inflows, companies like Fidelity, ARK Invest, and VanEck also gained substantial participation.

As of 2025, several major asset management companies have launched spot Bitcoin ETFs. Here are the main funds and their Bitcoin holdings details.

The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Source: Blockworks Bitcoin ETF Tracker

Key Differences Between Futures Bitcoin ETFs and Spot Bitcoin ETFs:

• Futures Bitcoin ETFs (e.g., BITO): Hold Bitcoin futures contracts on the Chicago Mercantile Exchange, not actual Bitcoin. Due to contract expiration, tracking errors can occur.

• Spot Bitcoin ETFs (e.g., IBIT): Directly hold Bitcoin, accurately tracking Bitcoin's market price.

Ethereum ETFs

Following the success of Bitcoin ETFs, the next major milestone in the cryptocurrency ETF space is the launch of Ethereum ETFs. Although Ethereum is often seen as "digital silver" to Bitcoin's "digital gold," it is the backbone of the DeFi and smart contract ecosystem.

Initially, regulatory bodies were hesitant to approve Ethereum ETFs. With the SEC's approval of spot Bitcoin ETFs in early 2024, Ethereum's path became clearer.

By May 2024, several Ethereum futures ETFs had received regulatory approval, marking another watershed in cryptocurrency adoption. Spot Ethereum ETFs were approved in July 2024. In the months leading up to approval, Ethereum's price broke through the $4,000 mark, mirroring Bitcoin's earlier surge.

As of 2025, Ethereum spot ETFs collectively hold a large amount of Ethereum, making it one of the largest institutional investment tools for the asset.

The Current Status of Altcoin ETFs: An In-Depth Look at Crypto ETF Applications in 2025

Source: Blockworks Ethereum ETF Tracker

At the time of writing, nearly 3 million ETH is held by ETFs, with institutional participation in ETH reaching new highs.

The Altcoin ETF Season Is Coming

With spot Bitcoin and Ethereum ETFs now firmly established, asset management companies have turned their attention to a broader range of the cryptocurrency ecosystem.

Encouraged by the increasingly open attitude of the U.S. SEC towards cryptocurrencies and the continuous improvement of market regulatory structures, asset management companies have applied for a batch of altcoin ETFs. These proposals aim to attract investors to popular tokens like Litecoin, XRP, Solana, Dogecoin, Cardano, and more.

Although no altcoin ETF has been approved in the U.S. yet, several are in active review, and the regulatory stance is changing. Analysts and industry insiders believe that once the first is approved, others will quickly follow. This is very similar to the domino effect that occurred with Bitcoin and Ethereum approvals.

Solana (SOL) ETF

Solana has surged in popularity over the past year, becoming one of the top candidates for an altcoin ETF. With its robust DeFi ecosystem, Solana is seen as Ethereum's strongest competitor in the smart contract space.

However, a key regulatory hurdle remains: whether Solana is considered a security. Ongoing litigation and classification disputes may delay the U.S. SEC's decision. Nonetheless, the infrastructure is already in place - DTCC (Depository and Clearing Corporation) has listed two Solana futures ETFs (SOLZ, SOLT), and the Chicago Mercantile Exchange is preparing for SOL futures contracts in 2025.

VanEck Solana Trust Fund

Submission Date: June 2024

Details: VanEck has filed a Form S-1 registration statement with the U.S. SEC, planning to launch a Solana spot ETF, aiming to directly track the price of SOL. This is the first application for a Solana spot ETF in the U.S.

21Shares Core Solana ETF

Submission Date: June 2024

Details: Following VanEck's lead, 21Shares has filed an S-1 document with the U.S. SEC, applying for a Solana spot ETF, which will be listed on the Cboe BZX exchange.

Bitwise Solana ETF

Submission Date: November 2024

Details: Bitwise initially applied to establish a legal trust for the Solana ETF in Texas, then withdrew the application and resubmitted an S-1 document to the U.S. SEC.

Grayscale Solana ETF (Spot ETF Conversion)

Submission Date: January 2025

Details: Grayscale has filed an application with the U.S. SEC to convert its existing Solana Trust (GSOL) into a spot ETF and list it on the New York Stock Exchange Arca. The application is based on its $1.34 billion asset management trust.

Canary Solana ETF

Submission Time: End of 2024 to early 2025

Details: Canary Capital has filed an S-1 document with the U.S. SEC for a Solana spot ETF. Amid the rising interest in altcoin ETFs following Trump's election victory.

Franklin Templeton Solana ETF

Submission Time: March 2025

Details: Managing over $1.5 billion in assets, Franklin Templeton has filed an S-1 and Form 19b-4 with the U.S. SEC, planning to launch a spot Solana ETF on the Chicago Board Options Exchange BZX, making it the sixth major institution applying for a U.S. spot SOL ETF.

According to Bloomberg industry research analyst, the chances of Solana ETF approval are high (75%).

Potential Impact: Analysts expect that if the ETF is approved, it will bring in $3 billion to $6 billion in capital inflows.

XRP (Ripple) ETF

XRP faces a unique challenge: legal status. Although Ripple won a partial legal victory in 2023, the U.S. SEC's final stance on whether XRP is a security remains unclear. However, a large number of related filings submitted at the beginning of 2025 indicate optimism