92 Crypto ETPs on Deck: A Shift Towards Institutional Investment?

The cryptocurrency market is poised for significant change as 92 exchange-traded products (ETPs) await approval from the US Securities and Exchange Commission (SEC). These ETPs track digital assets like Solana, XRP, and Dogecoin, valued at trillions of dollars. Institutional investors are increasingly adopting crypto ETFs due to their regulated nature and potential for significant returns. The SEC's approval of in-kind formation and redemption for Bitcoin and Ether ETPs in July 2025 is seen as a positive development, potentially leading to a "floodgate" of crypto investments.

The cryptocurrency market is poised for significant change as 92 exchange-traded products (ETPs) await approval from the U.S. Securities and Exchange Commission (SEC). These ETPs track digital assets like Solana, XRP, and Dogecoin, valued at trillions of dollars. Institutional investors are increasingly adopting crypto ETFs due to their regulated nature and potential for significant returns. The SEC's approval of in-kind formation and redemption for Bitcoin and Ether ETPs in July 2025 is seen as a positive development, potentially leading to a "floodgate" of crypto investments.

According to recent data from Bloomberg Intelligence, a total of 92 crypto ETFs are currently under review by the SEC [1]. Among these, Solana and XRP lead the race, with eight and seven pending applications respectively [1]. The submission rate for new applications has intensified over recent months, which could bring in capital into the crypto market and potentially mark the beginning of an altseason rally.

Industry giants Grayscale and 21Shares are among the firms currently in the SEC approval pipeline, both pursuing authorization for Ethereum staking ETFs [1]. Grayscale is simultaneously working to convert five existing trusts into ETF structures, including three publicly traded funds and two private trusts, which would provide ETF access to Litecoin, Solana, Dogecoin, XRP, and Avalanche [1].

The pending SEC decisions carry significant implications for altcoin markets, which is a primary concern for traders and institutional investors. Andrew Jacobson, VP and Global Head of Legal at 21Shares, observed a shift in market dynamics, stating that while being “first to file ETFs used to be cool back when it started in 2024”, the focus has now moved toward product innovation, specifically those integrating DeFi capabilities to TradFi audiences [1].

Bloomberg Intelligence senior ETF analyst Eric Balchunas remarked on the growing pipeline, suggesting that “pretty soon there will be more crypto ETF filings than stocks” [1]. Ray Youssef, CEO of NoOnes, recently shared with Cryptonews his expectation that major cryptocurrencies, such as SOL, XRP, and BNB, will attract structured capital investments due to their established infrastructure and real-world adoption potential [1].

Current prediction markets reflect strong optimism for approval prospects. On Polymarket, the odds of Solana ETF approval before the end of 2025 have surged to 99%, a substantial increase from 72% in May [1]. XRP maintains the second-highest approval probability at 87% on Polymarket, climbing from 64% on August 6 [1]. Notably, Dogecoin stands as the only speculative memecoin with favorable approval odds, currently at 82%, nearly double the 44% it was in June [1].

References:
[1] https://cryptonews.com/news/92-crypto-etfs-now-await-sec-approval-with-solana-xrp-leading-applications/
[2] https://finance.yahoo.com/news/92-crypto-etfs-now-await-130056606.html