What’s Next For US Crypto ETFs: Solana, XRP, Litecoin, HBAR in 2025 With New SEC Chair?

Coingapestaff
January 10, 2025
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Why Is Canary Litecoin ETF Approval by US SEC This Week Crucial for Crypto Market?

Highlights

  • US Crypto ETFs see almost 16 more applications including those for Solana ETF and XRP ETF.
  • This comes after the nomination of Paul Atkins for the US SEC Chair by Donald Trump.
  • XRP and SOL price recorded marginal gains today, after a volatile trading this week.

The market participants are anticipating more US Crypto ETF additions to the list after the approval of Spot Bitcoin ETF and Spot Ether ETF last year. Some more crypto ETFs that may see the light in 2025 are XRP ETF and Solana ETF, considering a lot of applications have been filed by issuers in November last year. That said a new wave of ETFs is now expected to emerge as Donald Trump prepares himself for the upcoming Presidential inauguration.

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Next Wave for US Crypto ETFs

According to a Reuters report, as many as 16 applications have been filed by issuers like VaEck, Canary Capital, and 21Shares. They are trying to get approval for exchange-traded products that would track crypto indices or tokens like XRP and SOL.

This next wave of US Crypto ETFs, which is also likely to include Litecoin ETF and HBAR ETF, stems from two core factors. These are the nomination of Paul Atkins as a successor to Gary Gensler for the SEC Chair and lighter regulations. Gary Gensler has always been seen as an anti-crypto figure who was ‘forced’ to approve Spot Bitcoin ETFs in January last year. Lighter regulations are based on Donald Trump’s commitment to draft crypto-friendly regulations and frameworks that would support the cryptocurrency as well as the technology sphere.

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SOL And XRP Price

Anticipation of the next wave of crypto ETFs in the US has had a mixed impact on SOL and Ripple’s XRP. SOL prices today are $191.04, which is up by 0.88% in the last 24 hours. There is also a notable surge in market cap despite a dip in the 24-hours trade volume which is down by 5.29%. Sentiments for SOL are bearish with Open Interest down by 2.15%.

Price movement for XRP is more or less the same. XRP price today is $2.32 which is up by 0.76% in the last 24 hours. The market cap has gained 0.80% with a slip of 31.08% in 24-hours trading volume. Sentiments for XRP are neutral amid the anticipation for the next wave of US Crypto ETFs with Open Interest slightly up by 0.39%.

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Flows for Current Crypto ETFs

Amid the anticipation of XRP, Litecoin, HBAR, and SOL ETF, Spot Bitcoin ETF and Spot Ether ETFs recorded heavy outflows on January 08, 2025. Spot Bitcoin ETFs saw an outward movement of $568.8 million with Fidelity’s FBTC leading the chart. It saw an outflow of $258.7 million followed by Ark’s ARKB which recorded an outflow of $148.3 million.

Interstingly, Fidelty’s FETH led outflows for Spot Ether ETFs as well, recording an outward movement of $147.7 million. Grayscale’s ETHE and ETH followed with an outflow of $8.3 million and $3.4 million, respectively.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.