Which Crypto ETFs Are Next? Dogecoin, XRP, and Solana Lead the List

The cryptocurrency trade notched two main victories final yr when a number of fund issuers secured long-awaited approvals to supply spot Bitcoin exchange-traded funds and their Ethereum-based counterparts within the U.S. However that does not imply issuers are able to relaxation on their laurels simply but. 

In latest months, fund managers have proposed new funding choices instantly monitoring the costs of a wide range of cryptocurrencies, from Dogecoin to XRP, Solana, and even Donald Trump’s meme coin. 

Listed below are the varied crypto-based ETFs that would quickly be provided in the US, and a take a look at the high-profile filings to this point for every asset.

Solana

Spot Solana exchange-traded funds are one potential different to Bitcoin and Ethereum ETFs that would start buying and selling within the U.S. this yr or subsequent.

The proposed funds, which embody the VanEck Solana Belief, 21Shares Core Solana ETF, Canary Solana ETF, and Bitwise Solana ETF, would instantly observe the worth of the fourth-largest cryptocurrency by market capitalization.

In the meantime, a handful of proposed Solana futures ETFs such because the ProShares Brief Solana, ProShares 2x Solana, and Vol Shares’ Solana ETF would allow buyers to make extra complicated bets on Solana’s value actions.

Nevertheless, each spot and futures Solana ETFs will probably not start buying and selling within the U.S. till 2026, in accordance to Bloomberg analyst James Seyffert. That’s as a result of the U.S. Securities and Trade Fee nonetheless has to evaluate a batch of spot Solana ETF purposes. 

The SEC usually takes between 240 and 260 days to make choices on purposes. However ongoing litigation over whether or not Solana is or is not a safety might lengthen that course of for a number of would-be Solana ETFs.

However, if and when spot Solana ETFs are accredited, the investor {dollars} they appeal to could possibly be huge. JP Morgan analysts predict Solana ETFs might collectively herald between $4 and $8 billion in investments.

Dogecoin

Just a few issuers have signaled that they plan to supply spot Dogecoin ETFs following a wave of political occasions that slingshotted the Shiba Inu-inspired meme coin to a three-year-high value of $0.48 in December.

Trade-traded fund supplier Rex Shares utilized in January to launch the Rex-Osprey DOGE ETF, the corporate’s submitting with federal regulators reveals.

In the meantime, Bitwise Asset Administration has registered a Dogecoin ETF entity in Delaware, a serious step in the direction of making use of for permission to launch an exchange-traded fund based mostly on Elon Musk’s beloved cryptocurrency. However Bitwise nonetheless must file a complete software with the SEC earlier than any potential fund might come to market.

Analysts are bullish that it will not take lengthy for Dogecoin ETFs to hit the market, nevertheless. Bloomberg senior ETF analyst Eric Balchunas stated this week {that a} spot Dogecoin ETF might theoretically launch as early as April, because of a rule that permits federal regulators to weigh in on funding providing proposals inside an expedited 75-day timeframe, reasonably than the everyday evaluation interval of eight to 9 months.

XRP

Funds created across the Ripple-linked XRP—such because the Rex-Osprey XRP ETF, Canary XRP ETF and 21Shares Core XRP Belief—are up for evaluation within the U.S., with federal regulators resulting from weigh in on purposes for the funds later this month. 

It stays unclear whether or not the ETFs can be accredited or not, however a rash of anticipated rule adjustments on the SEC level to a better chance that regulators might quickly inexperienced mild the funds within the U.S.

If XRP ETFs are accredited, then the funds might collectively herald between $3 and $6 billion in investments, in response to a latest estimate from J.P. Morgan analysts.

Past spot XRP ETFs, XRP futures-based exchange-traded funds such because the ProShares Brief XRP and ProShares 2x XRP are additionally up for consideration within the U.S. 

The previous would permit buyers to quick XRP, whereas the latter would allow buyers to make leveraged bets on the cryptocurrency’s future value actions.

HBAR 

Canary Capital filed for the primary HBAR ETF final November. HBAR is the native cryptocurrency of the Hedera community. 

In an X submit in December, Bloomberg analyst Eric Balchunas expressed optimism a few spot HBAR ETF’s odds of receiving approval within the U.S., saying that such a fund might launch earlier than its higher-profile Solana and XRP-based counterparts. Regardless of that, it stays unclear whether or not there’s ample investor demand for such a fund, he stated.

Litecoin

A rash of Litecoin-based ETF purposes have been filed following President Donald Trump’s inauguration this week, because the chilly crypto regulatory atmosphere reveals indicators of thawing. 

CoinShares filed two registration statements for a “CoinShares Litecoin ETF” and “CoinShares XRP ETF,” whereas the New York Inventory Trade signaled that Greyscale is making an attempt to convert its current Litecoin Belief into an ETF.

The brand new filings come roughly two months after Canary Capital filed for its personal Litecoin ETF, and days after Canary submitted an modification to its software for the fund. 

Litecoin is a peer-to-peer cryptocurrency created to enhance verification time for blockchain transactions. Very similar to its spot HBAR ETF counterpart, Canary Capital’s Litecoin ETF is more likely to get accredited earlier than Dogecoin, XRP, and Solana-based funds, in response to Bloomberg analyst Eric Balchunas. 

That is as a result of Litecoin’s regulatory standing is much less disputed than that of different altcoins corresponding to Solana, which stay on the heart of a authorized battle between the SEC and main crypto trade gamers, in response to Balchunas. 

BONK, Trump, and past

Rex Shares filed with federal regulators in January to launch spot Trump and BONK-based ETFs, respectively.

The proposed funds type a part of a rising listing of meme coin-based funding merchandise spun up by issuers, who’re apparently wanting to capitalize on buyers’ rising curiosity within the digital property market amid the newest crypto bull run.

Bloomberg analysts predict that TRUMP, BONK, and different meme coin-based ETFs might start buying and selling as quickly as April—that’s, if issuers’ proposals bear and cross an expedited evaluation course of with federal regulators.

Edited by Andrew Hayward