- Ten XRP ETF requests in the USA, which testifies to institutional interest and probably also of a liquidity advantage.
- The probability of admission of Solanas Sol as the first Altcoin ETF is evaluated higher.
The approval of Bitcoin and Ethereum-Spot-ETFs by the SEC in 2024 has drawn the attention of investors to the large old coins. Solana and XRP are now the leaders in the next wave of Spot ETF applications. In the USA, XRP has gained dynamics with increasing registrations and stock market volume. Solana has international tensile strength and newly introduced futures markets.
Thanks to institutions, potential XRP ETF demand increases
XRP is the most likely candidate for a cash reintention in the United States. Kaiko Research found that The US stock exchange volume of XRP now constitutes 20% of the total spot volume, the highest value since the 2021.
As CNF reported, 10 XRP ETF applications were submitted to the SEC, more than for any other altcoin. Investment companies, including Grayscale, Bitwise, Franklin Templeton, Proshares and 21shares, have submitted applications. Blackrock has not yet joined, but that should only be a matter of time.
As CNF reported, there is now a lit XRP ETF from Teucrium with the Ticker XXRP. This product, which offers a two-time daily return on XRP, already has $ 17 million on AUM. According to Kaiko, the existence of a lit product undermines the arguments against a spot ETF, since it shows that the underlying can be supported in structured financial instruments.
According to our report, JPMorgan expects that XRP ETFs will attract tributaries of $ 8 billion in the first year. While Deribit option dealers are pessimistic at short notice and expect XRP to stay below $ 2 in the near future, the long-term fundamental data attract the interest of institutions.
Sol ETFs develop global dynamics, but are lagging behind in the USA
Solana is still in the ETF race, especially because of its international commitment. Canada was the first country to have already launched several Solana Spot ETFs. In the United States, only 5 Solana ETFs are currently being checked by the SEC, the applicants include Grayscale, Bitwise and Vaneck.
Polymarket estimates the chances of admission of Solana somewhat higher than that of XRP (82 % compared to 78 %), which reflects the high expectations of investors. Solana also fulfills an important SEC criterion: the existence of a futures market. The CME Group launched Solana futures in March, which could help to meet the historical preference of the SEC for assets with established derivative markets.
Despite these advantages, Solana’s US cassembly volume has decreased, from 25 % in 2022 to 16 % today, as can be seen from the Kaiko data. This is a great decline compared to the latest profits from XRP. As we have already reported in our last news, liquidity and domestic market participation are the key to the approval of ETFs.
XRP and Solana reach the highest market depth of 1 %among the old coins, but the US market structure of XRP is more likely to meet the expectations of the regulatory authorities.
Political shifts can accelerate SEC decisions
The political landscape has also affected the pace and tone of the permits. A wave of ETF applications flooded in 2025 due to a crypto-friendly government. Last week Paul Atkins, a crypto supporter, was confirmed as a new second chairman.
Kaiko says that crypto -related deadlines under Atkins could have priority, which would give XRP and Solana a faster way to permit. Under Gary Gensler, the SEC focused on futures-based metrics, but the current market and legal developments could change that.
The long -standing legal dispute with Ripple with the SEC ended in March, which eliminated an important regulatory hurdle. Kaiko points out that this is a key factor that the XRP gives the XRP a lead in the registration time line.
XRP is currently $ 2.07, with a 24-hour volume of $ 2.91 billion. A decline of 1.32 % in the last 24 hours. Short -term fluctuations will occur, but ETFs drive the long -term interest in XRP and Solana.
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