These Are the Crypto ETFs That Could Enter the US Market This Year

The crypto industry attained a significant milestone in 2024 when numerous asset managers saw their applications for Bitcoin and Ethereum spot exchange-traded

The crypto industry attained a significant milestone in 2024 when numerous asset managers saw their applications for Bitcoin and Ethereum spot exchange-traded funds (ETFs) approved by the US Securities and Exchange Commission (SEC). The approvals have encouraged various issuers to apply for more ETFs based on other cryptocurrencies.

This article discusses some of the crypto ETFs that could enter the US markets if the SEC approves the submitted applications.

Solana ETFs

According to data from the Polymarket decentralized prediction market, there is a 69% chance that Solana spot ETFs could start trading in the United States this year. If approved, these ETFs will track the price of SOL, the fourth-biggest crypto by market cap.

Several asset managers have already filed for a Solana spot ETF. They include Bitwise, 21Shares, and VanEck.

It’s noteworthy that three Solana futures ETF applications have also been submitted to the US SEC. Upon approval, American traders would be able to bet on SOL’s price movements.

So, when should we expect Solana futures ETFs to begin trading? Bloomberg ETF researcher James Seyffert says these ETFs will likely become available next year, claiming that the commission is prioritizing Solana spot funds, which JP Morgan analysts say could process inflows of approximately $8 billion.

Dogecoin ETFs

Two companies have signaled their intentions to offer a Dogecoin-based spot ETF after the meme coin hit $0.48 last December. Earlier this month, ETF issuer Rex Shares announced submitting an application for its Rex-Osprey DOGE ETF. Last week, Bitwise established an entity to manage its Dogecoin ETF if its yet-to-be-submitted application receives the SEC’s approval.

According to Bloomberg ETF analyst Eric Balchunas, a Dogecoin spot ETF could enter the market as early as May.

XRP ETFs

The SEC will approve or decline proposed XRP-based funds like 21Shares Core XRP Trust, Rex-Osprey XRP ETF, and Canary XRP ETF later this week. New leadership at the commission has enhanced the likelihood of these ETFs getting approved, with JP Morgan analysts predicting at least $6 billion worth of inflows when the funds start trading.

Besides spot funds, XRP futures ETFs have also been proposed. If approved, US traders will be able to place leveraged bets on the future price movements of the Ripple-issued token.

HBAR ETFs

In November, Canary Capital applied for an HBAR ETF. For starters, HBAR is the token that powers the Hedera blockchain.

Balchunas is optimistic that the ETF will receive the SEC’s approval and launch before XRP and Solana-based exchange-traded funds. However, he is not convinced that HBAR ETF will attract sufficient investors. Therefore, he expects minimal inflows into the ETF if it becomes available to US investors.

Litecoin ETFs

Several Litecoin ETF fillings have been submitted to the Securities and Exchange Commission following Donald Trump’s inauguration last week, as ETF issuers hope that a conducive regulatory environment under the pro-crypto president could help renew investor interest in LTC.

On January 24th, CoinShares submitted its CoinShares Litecoin ETF proposal to the SEC, while Greyscale applied to convert its Litecoin Trust into a spot ETF. The latest filings come a few weeks after Canary Capital submitted an application for its Litecoin-based spot ETF.

Like the HBAR spot ETF, a Litecoin exchange-traded fund could receive the SEC’s approval before Solana, Dogecoin, and XRP ETFs, according to Balchunas, who says LTC and HBAR’s regulatory statuses are less disputed than those of the other three altcoins.

Trump and Bonk ETFs

A few days after Trump launched his meme coin on January 18th, Rex Shares applied for a TRUMP spot ETF. The same company has also filed for a BONK exchange-traded fund. These proposals for meme coin-based funds indicate that ETF issuers are looking to capitalize on the growing investor interest in cryptocurrencies without utility but promising massive returns.

Bloomberg ETF gurus say BONK and TRUMP ETFs could get approved before the end of April if their issuers pass an expedited review procedure with US regulators.

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