After the success of Bitcoin and Ethereum ETF funds in the U.S., the cryptocurrency industry continues to witness a wave of new applications for ETF funds based on prominent coins like Dogecoin, XRP, Solana, and even unique 'meme' coins. Below are details about these potential funds:
1. Solana: The next giant?
Many organizations like VanEck, 21Shares, and #Bitwise have proposed ETF funds that track the spot price of Solana – the fourth largest cryptocurrency by market capitalization. Predictions indicate that if approved, Solana ETF funds could attract between $4 to $8 billion in investments, according to J.P. Morgan.
However, the approval process for this fund may extend to 2026 due to legal disputes surrounding whether Solana can be considered a security.
2. Dogecoin: The anticipated meme coin
Dogecoin, the cryptocurrency inspired by the Shiba Inu dog, is attracting attention after the price peaked at $0.48. Organizations like #RexShares and Bitwise have filed applications to establish a Dogecoin ETF.
According to analysts, the Dogecoin ETF could launch as early as April this year, thanks to a fast-tracked approval process of only 75 days.
3. XRP: Positive signals from legal matters
Ripple, the company behind XRP, is facing numerous legal hurdles. However, funds like Rex-Osprey XRP ETF and 21Shares Core XRP Trust have a higher chance of approval due to regulatory changes at the SEC.
If approved, these funds could attract between $3 to $6 billion.
4. Litecoin and HBAR: Safer options
$LTC and #hbar are being considered for ETF issuance with less legal risk. This increases the likelihood of these funds being approved compared to Solana or XRP.
Canary Capital registered the first HBAR ETF fund in November 2024, while CoinShares and NYSE are promoting funds related to Litecoin.
5. Meme Coin: Trump and BONK attract attention
In addition to major cryptocurrencies, ETF funds based on meme coins like Trump and $BONK are also being considered. Experts predict that these funds could be approved as early as April this year.
Conclusion
The cryptocurrency market continues to expand with the emergence of new ETF funds, from major coins like Solana, Dogecoin, XRP to unique meme coins. If approved, this will be a significant opportunity for investors and open a new chapter for the crypto industry.