Top 6 Crypto ETF Approvals Expected in 2025

With Donald Trump’s administration anticipated to implement pro-crypto policies, bullish sentiment is growing around crypto exchange-traded funds (ETFs). The cryptocurrency market is buzzing as the race for altcoin ETFs intensifies, fueled by Gary Gensler’s resignation as SEC Chair on January 20, 2025. 

There has been a significant rise in the applicants for altcoin ETF, like Grayscale and CoinShares applying for Litecoin ETF and Bitwise applying for Doge ETF. 

Following the success of Bitcoin and Ethereum ETFs, Here are the top 6 ETF approvals expected in 2025. 

1. Solana 

Solana (SOL) stands out for its fast transactions and low fees, making it a top choice for decentralized apps and NFTs. 

After all, SOL is the fifth largest crypto asset by market cap. 

Five institutions — VanEck, 21Shares, Canary, Grayscale, and Bitwise — have filed applications for Solana ETFs. The SEC is set to begin its first review of filings from four of these institutions by January 25, 2025. 

On the Polymarket, bettors estimate an 89% chance of Solana ETF approval in 2025. 

2. XRP 

Ripple (XRP) has seen renewed interest following its partial victory in the SEC lawsuit, strengthening its appeal for cross-border payments. 

Bitwise, Canary Capital, WisdomTree, and 21Shares have filed applications for a spot XRP ETF with the U.S. SEC. 

In Europe, the recent launch of an XRP-based Exchange Traded Product (ETP) suggests growing adoption. 

On Polymarket, users predict a 71% chance of the SEC approving a spot XRP ETF in 2025, with a 52% likelihood of approval by July 31, 2025. 

3. Litecoin 

Major players including Canary Capital, Grayscale, and CoinShares have applied for a Litecoin ETF. Canary Capital’s recent filing of an amended S-1 form for its Canary Litecoin exchange-traded fund (ETF) suggests that Litecoin could be the next digital asset in the U.S. to receive the crypto ETF treatment. 

Nate Geraci, the President of The ETF Store, pointed out that the New York Stock Exchange (NYSE) had filed a 19b-4 form to list and trade Grayscale’s Litecoin Trust. 

The Litecin ETF expects approval in 2025 given its similarity to Bitcoin. Importantly, the SEC has never called litecoin a security. 

4. Dogecoin 

Dogecoin (DOGE), the eighth-largest cryptocurrency by market cap, calls the filing a potential marketing win or, at best, a path to SEC approval. 

Elon Musk remains a key driver of DOGE’s mainstream appeal. Bloomberg ETF analyst Eric Balchunas noted the legitimacy of the development, suggesting that a Dogecoin ETF could launch as early as April 2025 if approved. 

The SEC is set to respond to Bitwise’s DOGE ETF application by March 7, 2025. With Donald Trump Crypto friendly decisions and the new administration in the SEC, optimism is growing for the DOGE ETFs. 

5. Hedera 

Hedera (HBAR) with its unique hashgraph tech, enables fast, secure global transactions and is governed by a council of leading companies and organizations. In October, the firm launched an HBAR Trust for accredited investors. 

Canary Capital Group has filed an HBAR ETF application with the SEC. WisdomTree, known for its innovative ETFs, is also targeting Solana and Hedera, highlighting their strong technical foundations in decentralized apps. 

6. Cardano 

Cardano (ADA) could emerge as a frontrunner in the spot ETF race, backed by strong community support and network stability. 

Nate Geraci, CEO of The ETF Store, sparked conversations on crypto Twitter by predicting Cardano as the next digital asset likely to see spot ETF filings. 

Among the top 10 cryptocurrencies by market cap, two already have live ETFs, while three others have active Cardano ETF filings. 

Conclusion 

As the race for altcoin ETFs heats up in 2025, several cryptocurrencies, including Solana, XRP, Litecoin, Dogecoin, Hedera, and Cardano, are poised for potential approval. With growing optimism driven by pro-crypto policies and leadership changes at the SEC, the approval of these ETFs could mark a significant milestone in the broader adoption of digital assets.