According to Bloomberg Intelligence analyst James Seyffart, the U.S. Securities and Exchange Commission (SEC) is currently reviewing a record 92 applications for crypto-based Exchange-Traded Funds (ETFs). Many of these filings, particularly for Solana and XRP, are facing deadlines in October.
Solana and XRP are the most popular altcoin ETFs, with eight and seven applications respectively. This trend indicates a growing interest from institutional investors in cryptocurrencies beyond Bitcoin and Ethereum. Since April, 20 new applications have been filed, bringing the total to 92. These recent filings include proposals for spot ETFs for Litecoin, Avalanche, and even Dogecoin.
Prominent financial firms like Grayscale and 21Shares are actively involved in this push, with Grayscale aiming to convert several of its trusts into ETFs and 21Shares recently filing for a spot SEI ETF. Bloomberg analyst Eric Balchunas commented that the number of crypto ETF filings is increasing so rapidly that they may soon outnumber stock filings.
Ray Youssef, CEO of NoOnes, believes that projects with real-world use cases, like Solana, are likely to attract significant investment. Prediction markets reflect this optimism, with Polymarket showing a 99% chance of a Solana ETF being approved by 2025. XRP’s odds are 87%, and Dogecoin, the only meme coin with notable odds, has an 82% chance. If approved, these new ETFs could bring substantial capital into altcoins, potentially fueling the next market cycle.
September 2025, Cryptoniteuae