The SEC has just approved the first multi-coin cryptocurrency index ETF, paving the way for other altcoin ETFs like XRP, SOL, and ADA to be approved in the near future.
MAIN CONTENT
The SEC has approved the multi-coin cryptocurrency index ETF issued by Grayscale.
Bitwise 10 Crypto Index Fund is forecasted to be the next approved in July 2025.
XRP and ADA whales are showing accumulation moves indicating price increase expectations due to ETFs.
Which multi-coin cryptocurrency index ETF has the SEC officially approved?
On July 1, 2025, the SEC approved the conversion of Grayscale's Digital Large Cap Fund (GDLC) into a multi-coin cryptocurrency index ETF featuring BTC, ETH, XRP, SOL, and ADA. This fund currently manages assets of $754 million.
James Seyffart, Senior ETF Analyst at Bloomberg, states that the approval was anticipated, as the decision deadline is July 2, 2025. This allows investors to access a variety of top coins through a single fund, similar to how the S&P 500 operates in securities.
Which cryptocurrency fund will be approved by the SEC next?
Bitwise 10 Crypto Index Fund (BITW) is at the "starting line" and is expected to be approved soon before the July 31, 2025 deadline. The BITW fund focuses more than 90% on Bitcoin and Ethereum, facilitating investors wanting to diversify their portfolio with two major coins.
"Approval is what we expect. The fund currently invests over 90% in Bitcoin and Ethereum. The next important milestone is Bitwise BITW's deadline on July 31, but the SEC may decide before that date."
James Seyffart, Senior ETF Analyst at Bloomberg, July 2, 2025
Will ETFs for XRP, SOL, and ADA be approved individually?
Expert Nate Geraci from ETFStore notes that the launch of Grayscale's multi-coin index ETF is a preparation step for the approval of ETFs specifically for XRP, SOL, and ADA. This reinforces investor confidence in the growth prospects of these altcoins.
"XRP, SOL, and ADA will be included in the '33 Act ETF legal framework.' This is a signal that individual ETFs for each of these coins will be licensed soon."
Nate Geraci, ETF Expert, July 2, 2025
How has the market reacted to new cryptocurrency ETFs?
Data from Santiment shows that XRP whales holding between 1 million and 100 million tokens have not fluctuated after a significant accumulation in June. However, whales holding 100 million to 1 billion XRP have sold over 400 million tokens in the past 24 hours, putting pressure on XRP's price, causing it to drop by 6% this week.
In contrast, the top three ADA whale wallets, holding between 1 million and 1 billion tokens, have been continuously accumulating since mid-June, reflecting confidence in the price increase related to ETF approval signals.
Source: Santiment (XRP whale wallet data)
Source: Santiment (ADA whale wallet data)
What positive signs are there for the future of altcoin ETFs?
The cryptocurrency ETF summer is approaching despite a slow start in Q3. The SEC has approved an ETF for SOL with staking features and cryptocurrency index funds. The current trend is focused on separate approvals for XRP, SOL, and ADA ETFs, facilitating a more professional development of the cryptocurrency market.
ETF Component Cryptocurrency Main Assets Under Management (AUM) Approval Deadline Grayscale GDLC BTC, ETH, XRP, SOL, ADA 754 million USD Approved 1/7/2025 Bitwise 10 Crypto Index Fund (BITW) Over 90% BTC and ETH Not disclosed 31/7/2025
Frequently Asked Questions
Which altcoins has the SEC approved in the first cryptocurrency ETF? The Grayscale GDLC fund includes BTC, ETH, XRP, SOL, and ADA, managing $754 million in assets. Which fund will the SEC approve next? Bitwise 10 Crypto Index Fund (BITW) is predicted to receive approval before July 31, 2025. Are XRP, SOL, and ADA likely to be approved individually? Yes, ETF experts expect each individual ETF for XRP, SOL, and ADA to be licensed soon. What is the current position of XRP and ADA whales? ADA whales have been accumulating strongly since mid-June, while XRP whales have had a significant sell-off, causing the price to drop. What does the approval of the cryptocurrency index ETF mean for the market? It helps diversify portfolios, increases transparency, and facilitates large capital inflows into cryptocurrency.
Source: https://tintucbitcoin.com/grayscale-etf-da-tien-dien-tu-duoc-phe-duyet/
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