Momentum is building around the next wave of crypto exchange-traded funds, with analysts pointing to Solana (SOL) and XRP as the frontrunners likely to secure regulatory approval.
Investor Demand May Be Underestimated
ETF analyst Nate Geraci believes the market is misjudging just how much demand there will be for spot ETFs tied to Solana and XRP. In a September 1 post on X, Geraci noted that skepticism toward these funds feels similar to the doubts that surrounded early Bitcoin and Ethereum ETFs products that went on to attract massive inflows after launch.
Geraci also referenced his earlier call that Ethereum ETFs would eventually outperform Bitcoin’s, a prediction that has started to play out in recent months. He doubled down on the view that both SOL and XRP ETFs are well positioned not just for approval, but for success once trading begins.
Fresh Filings Show Progress
Adding fuel to the optimism, several issuers including Grayscale, VanEck, Franklin Templeton, and Canary/Marinade have recently updated their Solana ETF filings with the SEC. Bloomberg’s James Seyffart highlighted these updates as evidence of “constructive engagement” between issuers and regulators, a sign often seen when proposals are making headway.
Both Seyffart and fellow analysts continue to place approval odds for Solana and XRP ETFs at around 95%, far ahead of other altcoin-based funds still under review.
When Will a Decision Come?
The SEC has extended its review timelines, with final verdicts not expected until mid to late October. Decisions on Solana ETFs are due around October 16, while XRP ETF rulings are expected between October 18 and 23.
Though optimism is running high, the ultimate decision rests with regulators. Approval is the critical first step, but real success will depend on how much institutional and retail demand these ETFs can capture once they launch.
Broader ETF Pipeline Still Growing
While Solana and XRP lead the pack, the SEC is also reviewing applications for ETFs tied to Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), Hedera (HBAR), and others. If SOL and XRP win approval, it could pave the way for a broader expansion of altcoin ETFs in U.S. markets.
Why It Matters
If approved, Solana and XRP ETFs could give investors easier access to two of the largest altcoins outside Bitcoin and Ethereum, potentially drawing billions in fresh capital. For many analysts, it’s not just a question of “if” anymore but “when.”
