# Most analysts expect 2025 to be even better, with higher volumes.
But what everyone is waiting for are new ETFs on cryptocurrencies like Dogecoin, Solana's SOL, or Ripple's XRP. Given the craze for Bitcoin ETFs, this would be the solution to launch the altseason, and with it a bull run that lives up to our expectations.
However, would it be a success?
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According to the Sygnum report, "single token ETFs" are of interest to few investors, apart from those who are already in the crypto market. However, the latter would have no interest in buying ETFs with management fees, but without the advantages linked to DeFi.
On the institutional side, it is not the "single-token ETFs" that we are waiting for, but index ETFs, allowing to follow an entire crypto sector at once, such as the AI narrative, memecoin, or even DeFi.
In the absence of such ETFs, analysts believe that ETFs on central cryptos, such as Ethereum or Solana, could play this role of index, for lack of anything better.
Finally, the last condition for ETFs to take the market by storm, "in-kind redemption", in other words the possibility for investors to exchange their ETF shares for cryptocurrency rather than fiat currency, as is currently the case.
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What the market is waiting for to explode are:
ETFs tracking entire sectors of the industry (index),
providing access to decentralized finance or the advantages of staking,
payable in kind (in-kind redemption). An ETF launch meeting these conditions would be a very strong signal for the market in 2025.
