In the fast-paced crypto industry, ETFs are transforming the way investors access cryptocurrency in the traditional financial markets.

These ETFs combine the benefits of improved security, enhanced liquidity, and wider accessibility for crypto investments and make underlying crypto assets more appealing.

In the rapidly evolving crypto industry, exchange-traded funds (ETFs) are revolutionizing the way investors engage with cryptocurrency within the traditional financial markets. These ETFs offer a simple and regulated avenue for accessing crypto assets without the complexities of direct ownership.

Combining the advantages of enhanced security, increased liquidity, and broader accessibility for crypto investments, these ETFs render the underlying crypto assets even more appealing. Notably, Bitcoin and Ethereum’s spot ETFs have achieved massive success, prompting other contenders like XRP, Hedera, and Polkadot to enter the race for approval.

Let’s delve deeper into these major top crypto assets that could potentially have an ETF and further transform crypto investments. But before diving in, it’s essential to find out why crypto ETFs have been at the center of discussions in the past few months.

Why Crypto ETFs Are Gaining Traction?

The popularity of crypto ETFs is easily understandable due to the fact that they provide a simple way of investing in cryptocurrency assets without the need for hard-to-follow procedures. They have simplified the process of entering the crypto market by establishing a bridge between the traditional financial sector and the crypto market.

With upcoming spot crypto ETFs like XRP, Hedera, and Polkadot, traders are now searching for new opportunities in crypto investments that go beyond Bitcoin and Ethereum. These projects are providing real-world utility and innovations, which have attracted millions of investors who want to diversify their investment portfolio.

Upcoming Spot Crypto ETFs

Here is an overview of three upcoming spot crypto ETFs, which are as follows:

Ripple (XRP)

XRP is currently trading at $2.50 with a market cap of $148 billion. It has a total supply of 99.98 billion, of which 58.44 billion are in circulation. Market data shows that its price has surged by 400% in the past year.

Experts predict a massive surge in demand for XRP following the approval of spot XRP ETFs. This will essentially result in an increased market price, with some predictions speculating as high as $10 for XRP.

Status of XRP ETF

The filings for the XRP ETF begin in October 2024, and around 9 firms are waiting for the approval as of now, which include prominent asset managers like Bitwise, Canary Capital, 21Shares, WisdomTree, ProShares, CoinShares, Grayscale, Volatility Shares, and Franklin Templeton.

The SEC recently approved ProShares XRP futures ETF and has extended the review process of spot XRP ETF applications. Given that spot Bitcoin and Ethereum ETFs also followed the same path, this approval of the futures XRP ETF and its regulatory clarity has increased the chances of approval for spot XRP ETFs.

Hedera (HBAR)

HBAR is the native currency for the Hedera network, a next-gen blockchain alternative that uses Hashgraph technology. Hedera is known for its low-latency and high-speed transactions, with most of its clients residing in the institutional sector.

According to CoinMarketCap, HBAR is trading at $0.20, which has surged by 91% in the past year. It currently has a market cap of $8.84 billion.

According to some crypto analysts and early speculations, the HBAR price could see a notable rise after ETF approval. Some short-term predictions indicate that it could rise up to $0.60 within 1 or 2 weeks of approval, while long-term projections suggest that it might cross $1 with continuous development and institutional adoption.

Status of Hedera ETF

At the time of writing, two firms have filed for spot Hedera ETFs, which include Canary Capital and Grayscale. In the future, we anticipate the addition of more firms to this group. Currently, the SEC has not given any timeline for the Hedera ETF approval, but it is expected by the end of 2025.

Hedera ETF has a great chance of approval not only because it never faced any legal issues, but SEC’s stance on HBAR has also been clear of not being a security, unlike most leading crypto assets, such as Solana (SOL) and XRP.

Polkadot (DOT)

Polkadot is an interoperability blockchain protocol, which is developed to provide cross-chain transaction solutions. DOT is the native currency of the Polkadot network and it is currently trading at $5, with a market cap of $7.9 billion. Its price has declined by 26% in the past year.

Experts predict that if spot Polkadot ETF receives approval, then its price may surge to new heights. Short-term price prediction indicates that within 2-3 weeks after the approval, the price may reach $10, while long-term prediction suggests it might reach as high as $20 in post-approval market uptrend.

Polkadot ETF Status

Currently, 3 firms have filed for the Polkadot ETF which