The wave of encryption ETFs is coming, where is the next opportunity?

Once approved, these ETFs may reshape the market and open the door to encryption investment for investors without complex operations.

Written by: Douglas Lampi

Translation: Plain Blockchain

Editor's note: In 2025, the U.S. Securities and Exchange Commission (SEC) is reviewing 72 applications for crypto ETFs, including Solana, XRP, Litecoin, Dogecoin, and even the likes of Trump and Pudgy Penguins. These applications came from top institutions such as Grayscale, Bitwise, Franklin Templeton, and others, showing unprecedented institutional enthusiasm.

XRP leads with 10 applications, closely followed by Solana, indicating a potential capital influx. Once approved, these ETFs may reshape the market, opening the door for investors to engage in encryption investments without complex operations.

Here are more details about these altcoin Token ETFs:

Do you feel like you might have missed the next wave of excitement in the cryptocurrency market? While the ETFs for Bitcoin and Ethereum are receiving a lot of attention, another, more important story is quietly brewing.

Looking back at the early days of Bitcoin and Ethereum, those who discovered their potential early on reaped significant rewards.

ETF will start trading on January 11, 2024

Now, imagine a similar opportunity emerging that has not yet caught mainstream attention.

The "truth" that has not yet been reported in the evening news is: in addition to the main players, there are currently over a dozen other encryption currencies with pending ETF applications at the U.S. Securities and Exchange Commission (SEC).

These include a diverse range of digital assets—from meme tokens and Layer-1 giants to NFT-related tokens—names you might not have anticipated.

• As of April 2025, the U.S. Securities and Exchange Commission (SEC) is reviewing 72 applications for exchange-traded funds (ETFs) related to encryption, covering a variety of digital assets. These applications include major cryptocurrencies such as Solana (SOL), XRP (Ripple), Litecoin (LTC), and Dogecoin (DOGE), as well as emerging tokens like Sui (SUI), Hedera (HBAR), Avalanche (AVAX), and even thematic assets such as Trump Meme and Pudgy Penguins tokens (PENGU).
• The well-known asset management companies participating in these applications include Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, CoinShares, and Franklin Templeton. Notably, XRP leads with over 10 separate ETF applications, while Solana has 5, reflecting strong institutional interest in these assets.
• Bloomberg ETF analyst James Seyffart has compiled a detailed list of pending ETF applications, and relevant information can be found in various industry reports.

The key point is that once these applications are approved, they could bring significant capital inflows.

As we have seen with Bitcoin and Ethereum ETFs, regulatory approval can open the floodgates for institutional and retail investors. Those who position themselves early may reap substantial rewards.

Although you may be bombarded with cryptocurrency news, this particular development has still not garnered enough attention from most people.

Don't let FOMO (fear of missing out) for big brands distract you from other potential profit opportunities.

This is an opportunity to enter the market before it gains widespread attention.

Therefore, it is crucial to pay attention to these developments now. The list of cryptocurrencies pending ETF applications represents a field full of potential.

By preparing for these potential approvals, you can get ahead of the anticipated surge.

Here is a partial list of the submitted applications - including some names that might surprise you...

1. Solana (SOL)

Following Ethereum, Solana has seen applications submitted by VanEck, 21Shares, Bitwise, Grayscale, Canary Capital, and even Franklin Templeton. This high-performance Layer-1 has attracted institutional attention due to its scalability and vibrant ecosystem. The SOL ETF could pave the way for widespread adoption.

2. XRP (Ripple)

Despite facing regulatory setbacks, XRP has not backed down. Bitwise, Grayscale, WisdomTree, 21Shares, Franklin Templeton, CoinShares, ProShares, Teucrium, and Volatility Shares have all submitted ETF applications. This is significant institutional attention for a token that has endured hardships.

3. Litecoin (LTC)

Litecoin is often overshadowed by Bitcoin, yet it quietly earns respect as a reliable digital asset. Canary Capital, Grayscale, and CoinShares have all submitted ETF applications related to LTC. This veteran encryption currency is now attracting new regulatory attention.

4. Dogecoin (DOGE)

Yes, this meme is becoming mainstream. Bitwise, Grayscale, and Rex Shares have submitted applications, and Dogecoin may soon be in the same regulated asset class as Bitcoin. A token that started as a joke may eventually end up in your retirement portfolio.

5. Avalanche (AVAX)

VanEck is optimistic about Avalanche's subnets and scalability, having submitted an ETF proposal. Although still in the early stages, the modular chain design of AVAX has attracted institutional interest.

6. Aptos (APT)

This is a more speculative project, but Bitwise has officially submitted an application. Aptos is a Layer-1 derived from the Meta Diem project, with unique advantages that institutional players are paying attention to.

7. Sui (SUI)

Canary Capital submitted an application for SUI, which is another Diem sister protocol focusing on Move programming and fast parallel execution. Although it is still in the early stages, its entry into the ETF application list is noteworthy.

8. Hedera (HBAR)

With its enterprise partnerships and unique hashgraph consensus mechanism, Hedera continues to gain momentum. Canary Capital has submitted an ETF application based on HBAR, adding credibility to its long-term vision.

9. Trump Meme (TRUMP)

Submitted by Rex Shares, this is more of a political meme than a monetary asset. But it has officially entered the SEC's list. Whether it is satire or serious depends on the market reaction—regardless, it is already in the process.

10. BONK

Rex Shares submitted BONK along with other applications, which is a meme based on Solana, and its grassroots popularity continues to grow. Seeing it appear in the form of an ETF may mark the beginning of regulated meme trading.

11. Pudgy Penguins (PENGU)

NFT enthusiasts take note! Canary Capital has submitted an ETF application related to PENGU (Pudgy Penguins). This could be one of the first NFT-related tokens considered for ETF entry.

What does this mean to you?

ETF provides traditional investors with the opportunity to access encryption currencies without the hassle of dealing with wallets and private keys.

If even a few of these applications are approved, it could trigger a large influx of capital into the related assets.

The opportunity window to enter before the official launch of the ETF may be narrower than most people expect.