Bloomberg analysts Eric Balchunas and James Seyffart predict that 2025 will see a surge in cryptocurrency-based exchange-traded funds (ETFs), including potential offerings for Solana (SOL) and XRP. Balchunas anticipates that a wave of cryptocurrency ETFs will emerge next year, though not all at once. Optimism for these developments has grown following the announcement that Gary Gensler will step down as SEC Chair, with a new administration expected to take over in January. Gensler has been perceived as resistant to digital asset investment products, even as Wall Street’s largest players have launched spot Bitcoin ETFs that have attracted billions in investments.
Seyffart expects dual Bitcoin and Ethereum ETFs from providers like Hashdex, Franklin Templeton, and Bitwise to be the next spot crypto ETFs approved. Proposals for Solana and XRP ETFs have already been filed, but they are unlikely to receive approval before the new SEC administration takes office. While Seyffart sees Litecoin (LTC) and Hedera (HBAR) ETFs as more likely to be approved in the short term—due to the SEC not classifying these assets as securities—he remains uncertain about the level of investor demand for them.
The potential for Solana ETFs is particularly promising, with experts like Nate Geraci, President of ETF Store, predicting approval by the end of 2025. Dogecoin ETF filings could also be in the pipeline, with Balchunas jokingly noting that “today’s satire is tomorrow’s ETF.” Alexander Blume, CEO of Two Prime Digital Assets, added that issuers would not invest the time and resources into these proposals without confidence in their eventual approval.
The evolving ETF landscape reflects the growing acceptance of digital assets in mainstream finance, supported by changes in regulatory leadership and increasing institutional interest.
