Five Major Potential Tracks and Representative Projects
1. High-Performance Public Chains: Solana (SOL) and Avalanche (AVAX) As strong competitors to Ethereum, Solana has attracted six institutions, including VanEck and Franklin Templeton, to submit ETF applications due to its capability of processing tens of thousands of transactions per second. The explosive growth of DeFi and NFT projects within its ecosystem makes it the most likely candidate to replicate Ethereum's success. Avalanche’s unique subnet architecture also provides possibilities for customized blockchain solutions for institutions.
2. The Controversial Underdog: XRP Despite a three-year lawsuit with the SEC, XRP leads the list with over ten ETF applications. The real-world commercial implementation of its cross-border payment network (covering financial institutions in over 70 countries) may explain why giants like Grayscale and WisdomTree are still willing to bet on the future of this "regulatory-sensitive entity."
3. The Second Spring of Veteran Assets: Litecoin (LTC) and Dogecoin (DOGE) Known as "digital silver," Litecoin is experiencing a revival thanks to its stable mining mechanism and payment scenarios, as seen in applications from institutions like CoinShares. Dogecoin, on the other hand, exhibits remarkable evolutionary power—from a meme coin propelled by Elon Musk to being included in Grayscale's ETF application list, its community consensus has moved beyond entertainment attributes and is gradually penetrating practical scenarios.
4. Emerging Technology Innovators: Sui (SUI) and Aptos (APT) These two public chains originating from Meta (formerly Facebook) are transforming the programming advantages of the Move language into practical applications. Although the ecosystem is still in its early stages, the bets from institutions like Bitwise suggest that the technical team background and innovative architecture could become key to the next round of valuations.
5. Capitalization Experiment of Cultural Symbols: Trump Meme and Pudgy Penguins NFT The most surprising application comes from Rex Shares’ submission of the "Trump Meme Coin" ETF, as well as the proposal for associated tokens of Pudgy Penguins NFT. This marks that the crypto market is exploring the possibility of transforming social hot topics and popular culture IP into compliant financial products. Although the volatility risk of such assets is extremely high, the potential of the "symbol economy" they represent cannot be overlooked.
