Encryption ETF new wave of enthusiasm: 2025 latest application progress and prospects

As the cryptocurrency market matures, exchange-traded funds (ETFs) have become an important bridge between TradFi and digital assets. This article organizes the latest encryption ETF application progress, covering key information such as applicant institutions, feasibility analysis, introduction of the underlying asset, token price performance in the past month, and SEC review and response deadlines, providing readers with comprehensive market insights and future prospects. This article is from Golden Finance and reprinted by Foresight News. (Synopsis: Bloomberg analysts predict that the four major AltCoin ETFs (SOL, XRP, DOGE, LTC) approval probability, and ADA Spot ETF will also join the fray) (Background added: XRPSpot ETF is over!) Hashdex application approved by Brazil's certification board, the United States is also fast? I. Overview of the progress of newly applied encryption ETFs As of February 19, 2025, the encryption ETF market continued to heat up, especially after the approval of BTC and EthereumSpot ETFs, more institutions submitted applications for other cryptocurrencies. The following are the key developments: ADA (Cardano) Spot ETF Applicant/Institution: Grayscale Investments Progress: Grayscale filed the world's first ADA Spot ETF application with the U.S. SEC in the second week of February 2025. After the announcement, the ADA price rose by 16% at one point. The petition is currently under preliminary review by the SEC. Final Response and Review Period: The SEC typically has an initial response period of 45 days (through approximately March 25, 2025) after receipt of the application, which may be extended to 90 days (approximately May 10, 2025). XRP Spot ETF Applicants/Institutions: Bitwise Asset Management, Grayscale, 21Shares, WisdomTree, Canary Capital Progress: Bitwise formally submitted its XRP Spot ETF application through the Cboe BZX exchange in February 2025 and was confirmed by the SEC on February 18. Other institutions such as Grayscale and 21Shares have submitted similar applications in late 2024 and early 2025, all of which are currently under review. Final Response and Review Period: In the case of Bitwise, the SEC is required to provide an initial response within 45 days (approximately April 4, 2025), which can be extended to 90 days (approximately May 19, 2025). SOL (Solana) Spot ETF Applicants/Institutions: VanEck, Grayscale, Bitwise, 21Shares, Canary Capital Progress: Multiple institutions are submitting SOL Spot ETF applications in late 2024 and early 2025, with applications from Grayscale and VanEck entering the 21-day public comment period. Final Response and Review Period: In the case of Grayscale, the SEC has an initial response of 45 days after the comment period (approximately the end of March 2025), which can be extended to 90 days (approximately mid-May 2025). LTC (Litecoin) Spot ETF Applicants/Institutions: Grayscale, Canary Capital, Nasdaq (on behalf of unlisted issuers) Progress: Nasdaq filed an LTC Spot ETF application on January 29, 2025, and the SEC has accepted and entered a 45-day preliminary review (as of approximately March 15, 2025). Applications from Grayscale and Canary Capital are moving forward in tandem. Final Response and Review Period: Initial responses end March 15, 2025, which can be extended to 90 days (approximately April 29, 2025). DOGE (Dogecoin) Spot ETF Applicants/Institutions: NYSE Arca (on behalf of unlisted issuers), Grayscale Investments, Bitwise Asset Management, 21Shares, WisdomTree, Canary Capital Progress: The DOGE ETF application filed in early 2025 is in its early stages and the SEC has not disclosed further details, Progress is slower. Final response and review period: The expected 45-day initial response period (approximately mid-March 2025) can be extended to 90 days (approximately the end of April 2025). Second, through feasibility analysis The feasibility of an encryption ETF is affected by regulation, market demand, legal risk, and technology maturity: Regulatory environment Positives: The SEC's new leadership (Paul Atkins) is friendlier to encryption, and policy easing expectations increase in 2025. The success of BTC and the Ethereum ETF sets a precedent for other coins. Challenges: SOL and XRP have been challenged by the SEC as "securities" and legal status needs to be clarified; ADA and LTC have a high probability of approval due to decentralization; DOGE faces greater uncertainty due to meme properties. Probability of approval (Bloomberg analysts' forecast): LTC (85%), ADA (70%), SOL (60%), XRP (50%), DOGE (20%). Market demand LTC and ADA have certain needs due to mature technology and community support; SOL benefits from the Decentralized Finance and Non-fungible Token ecosystem, but is negatively affected by the decline in the MEME market; XRP has institutional investor follow; DOGE relies more on retail investor sentiment and may be limited in scale. Third, ETF underlying asset introduction and token price performance in the past month ADA (Cardano) Introduction: Cardano is an Open Source blockchain platform that focuses on academic research and sustainability, supporting smart contract and DApp development. Last month performance (January 18-February 18, 2025): The price dropped from $1 to $0.74, a decrease of about 26.41%. XRP (Ripple) Introduction: XRP is powered by Ripple Labs and focuses on cross-border payments, emphasizing fast, low-cost transactions. Nearly a month of performance: the price fell from about $3.09 to $2.56, a decrease of about 18.45%. SOL (Solana) Introduction: Solana is a high-performance public chain known for high throughput and low latency, widely used in MEME, RWA, Decentralized Finance and Non-fungible Tokens. Nearly a month of performance: the price fell from about $242 to $169, a decrease of about 31.91%. LTC (Litecoin) Introduction: Litecoin is BTCForked Coin, positioned as the "silver of BTC", with faster transactions and lower fees. Nearly a month of performance: the price rose from about $117 to 1...