The crypto exchange-traded product (ETP) market is gearing up for massive growth, with at least 92 crypto-related ETFs currently awaiting approval from the U.S. Securities and Exchange Commission (SEC). Analysts believe these approvals could mark a turning point for altcoin adoption and institutional participation in the digital asset market.
Solana and XRP Lead Pending ETF Applications
According to Bloomberg Intelligence analyst James Seyffart, Solana (SOL) and XRP are the most in-demand assets among pending applications. Currently:
- Solana has eight ETF filings under review.
- XRP follows with seven ETF applications.
Other filings include exposure to Dogecoin, Litecoin, and Avalanche, signaling growing investor appetite for diversified crypto portfolios beyond Bitcoin and Ethereum.
Applications Surge in Recent Months
Bloomberg Senior ETF Analyst Eric Balchunas revealed that back in April, there were 72 pending crypto ETF applications, meaning 20 new filings have emerged in just four months. These include:
- Three Bitcoin and Ether ETFs.
- Several altcoin-based ETFs targeting emerging projects.
Grayscale is also pushing to convert five existing trusts into ETFs, covering Litecoin, Solana, Dogecoin, XRP, and Avalanche. Meanwhile, 21Shares and other issuers are seeking approval for Ether staking ETFs, following recent SEC clarifications on liquid staking.
Industry experts believe that broader altcoin rallies may not occur until more crypto ETFs hit the market. Nate Geraci, president of NovaDius Wealth Management, emphasized:
“Look at all the crypto ETF filings out there… What I mean by ‘crypto ETF floodgates about to open soon.’”
BlackRock Dominates the Crypto ETF Landscape
Global investment giant BlackRock currently leads the crypto ETF sector. Its flagship products include:
- iShares Bitcoin Trust (IBIT) – Over $58.28 billion in net inflows.
- iShares Ethereum Trust (ETHA) – $13.12 billion in inflows, positioning it to soon overtake Coinbase as the largest ETH holder.
Remarkably, IBIT now controls more than 3% of Bitcoin’s total supply, and BlackRock earns more annual fees from IBIT than its core S&P 500 ETF (IVV), thanks to a 0.25% expense ratio compared to IVV’s 0.03%.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.