U.S. President Donald Trump has announced a new executive order on digital assets, directing a presidential task force to establish a strategic reserve of cryptocurrencies. The initial list includes XRP, Solana (SOL), and Cardano (ADA), with Bitcoin (BTC) and Ethereum (ETH) later added. The move aims to position the United States as the global leader in cryptocurrency adoption and innovation.
Following the announcement, all five assets experienced sharp price increases. With spot Bitcoin and Ethereum ETFs already approved, the path to launching ETFs for these so-called “American currencies” could be significantly shorter.
Earlier this year, under the new administration, the U.S. Securities and Exchange Commission (SEC) formed a dedicated cryptocurrency working group led by Commissioner Hester Peirce—widely regarded in the industry as a strong advocate for digital asset innovation. This development is expected to accelerate ETF applications for a broader range of assets, including SOL, XRP, Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), and more.
Current ETF Application Status
Solana (SOL): The most advanced altcoin ETF application, acknowledged by the SEC on February 6 after Grayscale’s 19b-4 filing. The SEC’s review period could extend to October 16, 2025.
XRP: Multiple filings are under review. Grayscale’s application was accepted on February 14, setting a similar mid-October decision date. Legal clarity on XRP’s classification—supported by recent rulings—may influence timing.
Dogecoin (DOGE): ETF applications, including one from Grayscale, are progressing, with decisions likely in October.
Polkadot (DOT): ETF filings by Grayscale and 21Shares are under SEC review, targeting October 2025 for decisions.
Cardano (ADA): The first independent ETF application began review on February 24, with an expected October decision.
Trump Token (TRUMP): Still in early stages, with no formal 19b-4 filing yet, though the Trump Media & Technology Group (TMTG) plans multiple ETF products.
Hedera (HBAR): Review began on February 25.
BONK & Aptos (APT): Preliminary stages, with no confirmed SEC filings.
If approvals accelerate, analysts believe the U.S. could see a surge in crypto ETF offerings, further cementing its role as a central hub for digital asset markets.