The crypto ETF sector is heating up after the major success of Bitcoin’s spot ETF launch in the U.S.
Nate Geraci, president of The ETF Store, hinted that applications for ETFs involving Solana, Ripple’s XRP, HBAR, and even Cardano or Avalanche are now in the mix.
Beyond Bitcoin
With major players like Grayscale exploring altcoin ETFs, it’s clear that institutional investors are looking for diverse exposure beyond just Bitcoin and Ethereum.
This shift could pave the way for alts to take center stage in the investment world.
Geraci noted in a post on X that there are currently spot ETF filings for crypto index funds from Grayscale and Bitwise that include SOL, XRP, and HBAR.
He even joked that December 31 might be the perfect date to file for a Dogecoin ETF—because who doesn’t love a little meme magic?
Solana is very likely, but the others?
Bitcoin ETFs have already amassed multiple billions in total assets under management just 10 months after their January debut.
Going after a Solana ETF seems like a smart move, too, given that its blockchain is known for being scalable, fast, and low-cost. VanEck recently filed a spot ETF for SOL to capitalize on its growing ecosystem.
Ripple’s XRP has also gained some clarity following its legal victory, boosting Bitwise’s confidence in its long-term prospects.
In fact, XRP’s price jumped over 103% in just 24 hours, trading at around $1.11 with a trading volume of $6.86 million.
Solana isn’t the only one making some noise after it saw a price spike of 45% in the last month and is currently trading at about $240.
Dogecoin also had an impressive comeback as well, skyrocketing by 167% over the past 30 days.
Then there’s HBAR, which has caught attention with its robust distributed ledger technology.
Canary Capital recently filed an S-1 registration to bring HBAR into the ETF spotlight.
Geraci speculates that issuers might also target Cardano due to its secure and scalable proof-of-stake consensus mechanism while Avalanche stands out with its lightning-fast transaction finality and multi-chain architecture.
Bitcoin ETFs are on fire
The success of Bitcoin ETFs continues to shine bright. On Wednesday alone, the 12 Bitcoin ETFs from heavyweights like BlackRock and Fidelity saw net inflows of $773 million as Bitcoin climbed toward the $100K level.
This makes it one of the most successful fund launches ever!
The optimism surrounding Trump’s pro-crypto stance is palpable, especially with his transition team considering creating a White House position focused on digital asset policy, a first for the U.S.
