- Franklin Templeton has filed for a spot XRP ETF, becoming the largest asset manager to enter the race.
- Altcoin ETF filings are surging, with VanEck, Grayscale, and Bitwise pushing for Solana, Dogecoin, and HBAR products.
- Institutional demand for Ethereum ETFs is rising, while a new SEC crypto task force may influence future approvals.
Franklin Templeton has officially entered the spot XRP ETF race, filing an S-1 registration with the U.S. Securities and Exchange Commission (SEC) on Tuesday. This makes it the largest asset manager to file for an XRP-based exchange-traded fund, marking a major shift in institutional interest under crypto-friendly policies from the Trump administration.
The Expanding Altcoin ETF Market
The ETF filings keep piling up. Just this week:
- VanEck registered for what appears to be the first AVAX ETF.
- Grayscale recently filed for a Polkadot (DOT) ETF.
- Canary Capital registered for an Axelar ETF last week.
- Bitwise and Grayscale filed for Dogecoin and HBAR ETFs, while VanEck’s Solana ETF is still awaiting SEC action.
In a separate development, the Cboe BZX Exchange filed a rule change that could allow staking within Fidelity’s Ethereum ETF, a move that could set a precedent for future ETFs incorporating staking rewards.
How Likely Are These ETFs to Get Approved?
Bloomberg analysts predict Litecoin ETFs have a 90% chance of approval, while:
- Dogecoin ETFs sit at 75%.
- Solana products at 70%.
- XRP ETFs at 65%.
The SEC approved spot Bitcoin ETFs in January 2024 and Ethereum ETFs in July, setting the stage for broader altcoin ETF adoption.
Institutional Interest in Crypto ETFs Grows
Institutional demand for spot Ethereum ETFs surged last quarter, with ETH ETF ownership rising from 4.8% to 14.5%. Meanwhile, spot Bitcoin ETF ownership slightly declined from 22.3% to 21.5%.
A new SEC crypto task force, led by Republican SEC Commissioner Hester Peirce, is expected to play a key role in determining which crypto assets qualify as securities, potentially influencing future ETF approvals.
With institutional money flowing into altcoin ETFs and new regulatory developments unfolding, the crypto ETF landscape is evolving fast—and XRP, Solana, and Dogecoin could be next in line.
