Crypto ETFs are no longer limited to Bitcoin and Ethereum. In 2025, the U.S. exchange-traded fund landscape is exploding with digital asset innovation, spot ETFs to Solana, XRP, and even meme coins like DOGE and TRUMP entering the race.
What began as a cautious regulatory experiment has become a full-blown Wall Street gold rush, with giants like BlackRock, Fidelity, and Ark Invest leading the charge. Now, with Gary Gensler out as SEC Chair and a more crypto-friendly administration in power, asset managers are filing for altcoin ETFs at an unprecedented pace.
Whether you’re a retail investor looking to ride the next altcoin wave or an institution seeking compliant crypto exposure, this guide breaks down every U.S. crypto ETF you need to know about right now.
What are Crypto ETFs?
Just to clarify things, let’s understand what crypto ETFs are and why they are going on hype road in 2025.
Cryptocurrency exchange-traded funds, or ETFs, are investment vehicles that enable investors to obtain exposure to cryptocurrencies without requiring them to buy, possess, or manage the underlying digital assets. Rather than owning Bitcoin or Ethereum outright, investors buy shares in a fund that either holds the cryptocurrency (spot ETF) or uses futures contracts to reflect its price.
These ETFs are listed on traditional stock exchanges like the NYSE or Nasdaq alongside other stocks and ETFs. This makes crypto ETFs an intriguing entry point for retail and institutional investors to obtain exposure to the cryptocurrency market via regulated, well-understood platforms, without the need for wallets, keys, or crypto exchanges.
There are two main types:
- Spot Crypto ETFs: Hold the underlying actual cryptocurrency (e.g., Bitcoin or Ethereum).
- Futures Crypto ETFs: Rather than holding the cryptocurrency directly, investors can track its price using regulated futures contracts.
Also Read: Top Crypto ETFs: Your Guide to Low-Risk Crypto Investing
Bitcoin and Ethereum: A Gateway for the ETFs
The introduction of U.S. spot crypto ETFs in 2024 marked a turning point for how mainstream finance accommodates digital assets. From Bitcoin, subsequently added to Ethereum, these ETFs presented a vehicle for institutional and retail investors to achieve regulated, direct exposure to cryptocurrency with no challenges of custody or self-management.
Bitcoin Spot ETFs: The First Milestone
Spot Bitcoin ETFs, launched in January 2024, were a milestone in U.S. finance history. Unlike futures-based ETFs, they hold actual Bitcoin and grant direct price exposure, triggering massive inflows. This shift marked the adoption of Bitcoin as a legitimate, regulated financial instrument, opening up the way for institutional and retail adoption.
The launch of spot Bitcoin ETFs was approved with billions pouring in, adding liquidity and solidifying Bitcoin’s status as a value store like gold.
The spot ETF space rapidly became a battlefield for leading asset managers:
- BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with over 50% market share.
- Fidelity’s Wise Origin Bitcoin Trust (FBTC) and Grayscale’s converted GBTC followed suit with significant BTC positions.
- Innovators such as ARK Invest, Bitwise, and VanEck brought their products to market, expanding investor options.
These products offer more convenient access to Bitcoin via traditional vehicles such as brokerage accounts, cementing spot Bitcoin ETFs as the anchor of crypto investing in America by 2025.
Also Read: How Excitement Around Bitcoin ETF Approval Is Influencing the Crypto Space
Ethereum ETFs: Digital Joins the Fray
In July 2024, Ethereum became the second cryptocurrency to be approved as a spot ETF. Because ETH, frequently referred to as “digital oil,” enables DeFi and smart contracts, it is a desirable investment option for organizations. The clearance of the spot ETF led to massive inflows and a price spike to $4,000.
Major financial institutions quickly followed suit with the ETH ETF. The current ecosystem includes:
- BlackRock: Through its iShares Ethereum Trust (ETHA), it is among the biggest holders of Ethereum.
- Grayscale has converted its popular Ethereum Trust (ETHE) into a spot ETF.
- Fidelity launched the Fidelity Ethereum Fund (FETH), which caused a lot of buzz.
- VanEck, 21Shares, Bitwise, and Franklin Templeton have all launched Ethereum ETFs.
Within weeks, these reserves had accumulated about 3 million ETH, boosting demand and making Ethereum the second-most prized digital asset in institutional holdings.
A New Wave of Crypto ETFs
With spot Bitcoin and Ethereum ETFs now in place in the U.S., focus is rapidly shifting to the next great opportunity: altcoin ETFs. These funds will provide investors with exposure to widely held cryptocurrencies such as Solana, XRP, Litecoin, Cardano, and others, all via traditional stock markets.
Asset managers are more bullish, courtesy of a friendlier SEC towards crypto, improved surveillance capabilities, and increasing investor appetite. We’re in what’s being dubbed “Altcoin ETF Season.”
What’s Changing at the SEC?
The U.S. Securities and Exchange Commission (SEC) has traditionally been skittish about crypto. With Bitcoin and Ethereum ETFs now trading, however, the regulatory climate is heating up. Some specialists expect that the moment the SEC gives the go-ahead for the first altcoin ETF, a domino effect is likely, just as we witnessed with Bitcoin and Ethereum.
Indeed, several ETF applications are currently being considered. Some leading analysts provide Solana and Litecoin with high chances of approval (75–90%).
The Next Frontier: Altcoin ETFs Gain Momentum
With the spot Bitcoin and Ethereum ETFs now listed in the U.S., attention is turning to the next milestone event: altcoin ETFs. Supported by advancing SEC attitudes and increased market monitoring, asset managers are stepping up filings for tokens such as Solana, XRP, Litecoin, Cardano, and Avalanche.
While none have yet been approved, several are being reviewed. Once one altcoin ETF is approved, others can quickly follow suit, just as BTC and ETH have done.
Let’s explore the altcoin ETF universe and find out which ones are moving the most.
Litecoin (LTC) ETFs
Litecoin, the so-called “digital silver,” is one of the longest-existing cryptocurrencies with an excellent record for stability and reliability. Its close technical similarity with Bitcoin and liquid market depth enable it to become a strong applicant for ETF registration.
- Canary Capital Litecoin ETF: First U.S. spot LTC ETF filing (Oct 2024)
- Grayscale Litecoin Trust Conversion: Filed in Jan 2025
- CoinShares Litecoin ETF: Filed in Jan 2025
With its solid presence and low regulatory barriers, Litecoin has an estimated 90% approval chances, placing it among the most probable altcoins to receive the green light.
Solana (SOL) ETFs
Solana has become incredibly popular because of its speedy and cheap transactions and is usually considered a serious rival to Ethereum in DeFi. Nevertheless, the largest obstacle is whether Solana is a security in U.S. law. In spite of this ambiguity, demand is still strong:
- VanEck Solana Trust: First spot Solana ETF filing (June 2024)
- 21Shares Core Solana ETF: Also filed in June 2024
- Bitwise Solana ETF: Filed in November 2024, later refiled an S-1
- Grayscale Solana ETF: Filed in January 2025 to convert an existing trust
- Canary Solana ETF: Filed in late 2024 to early 2025
A spot Litecoin ETF has a 75% chance of approval, with possible $3–6 billion in inflows. Approval would increase LTC’s visibility, liquidity, and institutional adoption.
XRP (Ripple) ETFs
XRP is in a state of legal limbo because there is still a battle raging as to whether it is a security. Nevertheless, most companies are optimistic:
- Bitwise XRP ETF: First XRP ETF proposal (October 2024)
- Canary Capital XRP ETF: Filed in October 2024
- 21Shares Core XRP ETF: Filed in November 2024
- WisdomTree XRP ETF: Filed in December 2024
- Grayscale XRP ETF: Filed in January 2025 (conversion)
CoinShares, ProShares, Teucrium, MEMX, Volatility Shares, Franklin Templeton – All filed between January–March 2025
XRP ETFs have strong approval odds, with estimates between 65% and 81%. JPMorgan expects $4–8 billion in inflows if approved, underscoring its institutional appeal.
Cardano (ADA) ETFs
Cardano’s focus on sustainability and peer-reviewed growth makes it a desirable candidate for ESG investors. Still, the absence of a U.S. futures market could hold back SEC approval, creating an obstacle in competing for an altcoin ETF.
Grayscale’s Cardano Trust (ETF Conversion), submitted in February 2025, is looking to convert its current trust into an ETF. With approval chances being at 65%, this action may push higher staking and validator engagement, providing long-term stability for Cardano’s price.
Avalanche (AVAX) ETF
Avalanche, a quick and scalable Layer 1 blockchain, rivals Ethereum and has attracted investors. VanEck’s March 2024 submission for an Avalanche ETF indicates increasing institutional demand, although SEC approval remains pending.
The VanEck Avalanche ETF would provide investors with exposure to AVAX, with approval prospects increasing if other Layer 1 ETFs are approved. Approval may increase institutional demand and long-term growth for Avalanche.
Aptos (APT) ETF
Aptos, a Layer 1 blockchain developed by former Meta programmers, is poised for future blockchain growth. Bitwise’s March 2025 filing for an Aptos ETF is an early attempt to capitalize on Aptos’ potential, but approval chances are currently low to moderate.
The Bitwise Aptos ETF would provide investors with direct exposure to Aptos, with the likelihood of approval increasing if other altcoin ETFs succeed. Its clearance could strengthen Aptos’ position as a competitive Layer 1 blockchain.
Sui (SUI) ETF
The scalability and growing ecosystem of Sui, a new Layer 1 blockchain, are drawing interest. Although Canary Capital’s March 2025 Sui ETF petition demonstrates initial optimism, institutional liquidity constraints make approval unlikely before 2026.
Investor interest in the Canary Sui ETF has already increased, as evidenced by the rise in Sui’s price after the filing. It might greatly increase Sui’s value if it is accepted in the future, which would be a huge victory for more recent blockchains.
MOVE (MOVE) ETF
The MOVE ETF, submitted in March 2025 by Rex Shares and Osprey Funds, seeks to replicate MOVE, the Movement Network’s Ethereum Layer 2 protocol token. Given its status as a new asset with little liquidity, it has low approval prospects, but it paves the way for the eventual approval of future infrastructure token ETFs.
The Rex-Osprey MOVE ETF would give investors exposure to Ethereum’s Layer 2 universe, with an emphasis on cost-efficient smart contracts. Although approval seems unlikely at the moment, its success could pave the way for additional infrastructure-based ETFs in the blockchain space.
Memecoin ETFs: Meme Magic Meets Wall Street
Memecoins, the internet’s inside jokes turned crypto assets, are now trying to hit the big leagues with ETFs. Yep, they’re heading to the stock market wrapped in shiny new financial products.
Here’s a breakdown of the latest memecoin ETF filings — who’s filing, what’s inside, and how likely they are to get approved.
| Token | ETF Name/ Issuer | Filed | Details | Approval Chance |
|---|---|---|---|---|
| DOGE | Rex Shares Osprey Dogecoin ETF | Jan 2025 | Basic DOGE-focused ETF | High (75%) |
| Grayscale Dogecoin Trust (Conversion) | Jan 31, 2025 | Converting private trust to public ETF on NYSE Arca | High | |
| Bitwise Dogecoin ETF | Jan 23 (trust), Jan 28 (S-1), Mar 3 (19b-4) | Filed for spot ETF with NYSE Arca | High | |
| TRUMP | Rex Shares TRUMP ETF | Jan 21, 2025 | ETF holding 80%+ in TRUMP token or derivatives | Low |
| BONK | Rex Shares BONK ETF | Jan 21, 2025 | BONK is a Solana-based meme coin | Low to Medium |
| PENGU | Canary Capital PENGU ETF | March 2025 | ETF holds 80–95% PENGU token, 5–15% NFTs, plus ETH/SOL for liquidity | Very Low / Speculative |
Conclusion
The U.S. crypto ETF market in 2025 is rapidly expanding, with Bitcoin, Ethereum, and altcoins like Solana and Litecoin leading the charge. As the regulatory environment becomes more favorable, new funds, ranging from established digital assets to meme coins like DOGE, are set to bring greater liquidity and mainstream adoption.
For investors, both retail and institutional, staying informed about the latest ETF developments isn’t just optional—it’s essential. The future of crypto investing is here, and it’s traded on Wall Street.
