Isabella García
With President-elect Donald Trump’s inauguration just around the corner, asset managers like VanEck and ProShares have intensified their efforts to bring new cryptocurrency ETFs to the market. Recent filings propose funds for major tokens such as Litecoin, XRP, and Solana, signaling a potential shift in the regulatory landscape.
Market speculation suggests that a spot Solana ETF could debut by the end of 2025. If approved, leveraged and inverse versions of Solana ETFs are likely to follow, mirroring the approval patterns observed with Bitcoin and Ethereum ETFs. Meanwhile, XRP has attracted attention due to its recent price surge, and Bloomberg analyst Eric Balchunas has predicted that Litecoin will be the next cryptocurrency to secure spot ETF approval.
The wave of filings began last Wednesday when VanEck proposed its actively-managed Onchain Economy ETF. Rather than directly investing in cryptocurrencies, the fund plans to allocate at least 80% of its assets to companies involved in digital transformation or digital asset instruments.
Spot Litecoin ETF Filing by Canary Capital
On Thursday, Canary Capital filed an amended proposal for a spot Litecoin ETF, marking a key step in the approval process. Nasdaq submitted a 19b-4 form on Canary’s behalf to initiate SEC review. Balchunas reiterated his prediction that Litecoin would lead the charge in gaining approval, though he acknowledged the uncertainty surrounding the appointment of a new SEC chair.
CoinShares Valkyrie filed for a Digital Asset ETF tied to its COINTEN Index, which tracks the top 10 digital assets. The fund will invest primarily in exchange-traded products listed on major U.S., Canadian, and EU exchanges, provided they meet liquidity criteria. While the ETF could theoretically hold up to 10 assets, it explicitly mentions Bitcoin, Ethereum, Solana, and XRP as top candidates.
In another noteworthy filing, Oasis Capital proposed a Digital Asset Debt Strategy ETF, which would allocate 80% of its assets to convertible bonds from companies operating in the cryptocurrency space. This includes mining firms, payment infrastructure providers, and entities holding significant digital assets in their treasuries.
Rounding out the week, ProShares submitted an extensive array of filings for both Solana and XRP. These included proposals for leveraged ETFs (2x), inverse ETFs (-1x), and ultra-short ETFs (-2x) for both tokens. Notably, ProShares was also the first to launch a short Ethereum futures ETF in 2023, underscoring its commitment to innovation in the ETF space.
Market Impact of Trump’s Memecoin on Solana
The Solana ecosystem has experienced a significant boost from the recent success of President-elect Trump’s memecoin. The token’s performance has elevated Solana to new all-time highs, further fueling demand for Solana-based ETFs.
“The regulatory environment is evolving rapidly,” noted Nate Geraci, president of The ETF Store. In a post on X, he emphasized how 2025 is shaping up to be a transformative year for cryptocurrency ETFs.
The surge in ETF filings reflects growing confidence among asset managers in regulatory progress, with these proposals set to reshape how investors access digital assets in traditional markets.
