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This year has observed a rise in the quantity of altcoin ETF submissions, with no fewer than 31 lodged in the initial half of 2025, as discovered by Cointelegraph Research.
Regulatory enthusiasm in the US has resulted in at least 31 altcoin exchange-traded fund (ETF) applications to the US Securities and Exchange Commission in the first half of 2025.
The SEC has greenlighted futures and spot ETFs for Bitcoin and Ether, yet earlier endeavors to launch altcoin-related instruments have languished. Now, revived optimism following the 2024 elections has sparked multiple new applications that are anticipated to gain approval. This includes submissions from recognizable entities like VanEck, which sought to list ETFs in BNB and Avalanche. Both WisdomTree and Franklin Templeton have XRP ETFs awaiting decisions.
Memecoins are also in the mix, with REX-Osprey aiming to establish an ETF for US President Donald Trump’s token.
ETF and cryptocurrency analysts are hopeful that at least 10 applications will meet the SEC’s requirements, which has observers excited about an “altcoin summer.”
ETF submissions ignite hopes for an “altcoin summer”
Spot Bitcoin ETFs were initially sanctioned in the US in January 2024. Months later, in July, spot Ether ETFs followed suit.
This approval was perceived as a crucial moment for cryptocurrency adoption, as it allowed institutional investors to engage with the market through a financial instrument they were already familiar with: an ETF.
Now, altcoins (any cryptocurrency that isn’t Ether or Bitcoin) might be poised for their opportunity in institutional acceptance.
According to Cointelegraph Research, there have been at least 31 spot altcoin ETF submissions in 2025. Prominently among the applications are ETFs featuring Ripple’s payments-centric crypto, XRP, and the iconic memecoin Dogecoin.
Per Bloomberg ETF analyst Eric Balchunas, a “potential Alt Coin summer” is approaching, with a Litecoin ETF anticipated to be the first approved — although Solana could be in line right after.
“[A Litecoin ETF is] certainly among the most probable to debut first, but Osprey nudging their Solana 40 act filing effective might have prompted the SEC to expedite their actions on the Solana submissions,” he remarked.
Is it an altcoin summer or winter?
Nonetheless, ETF approval does not ensure prices skyrocketing. Nearly a year post-approval, ETH’s value hasn’t experienced the same explosive price movements as its counterpart, Bitcoin.
The previous month saw favorable inflows with no instances of net outflows to ETH ETFs, but detractors and observers express concerns over relatively low network fees and the Ethereum network losing strength in the realm of decentralized exchanges.
Related: SOL price toward $300 next? Solana ETF approval likelihood increases to 91%
Demand for altcoin ETFs might even be less than that for ETH ETFs, as Balchunas noted, “Nothing will match bitcoin. We have a little adage within the team: ‘The further away you move from bitcoin, the fewer assets there will be.’”
Hopes for an “altcoin summer” may further diminish as altcoins’ supremacy decreases. Crypto market analyst Daan Crypto Trades commented in February on the declining altcoin dominance but noted that “the drop was swifter and more pronounced” than in previous cycles.
Two separate “altcoin season indexes” from Blockchain Center and CoinMarketCap clearly indicate the indicator firmly in “Bitcoin season.”
Yet, others spot an opportunity. Analyst Michaël van de Poppe asserted on June 1 that the altcoin market has barely begun: “The most significant bull market in crypto is impending, as the expansion following such a prolonged bear market will be greater than before.”
Even as Israel’s strikes on Iran disturbed crypto prices on June 13, van de Poppe maintained an optimistic outlook on positive momentum, stating that gold’s downward movement indicated potential for altcoin growth.
“Buying the dip for chances. This should soon disappear,” he commented in a follow-up post.
SEC shifts stance, while CFTC prepares for regulation
On April 10, the SEC welcomed its new chair, businessman Paul Atkins, after a protracted confirmation process in the Senate.
Atkins’ focus was to reverse the measures of his predecessor, Gary Gensler, whom the cryptocurrency sector accused of hindering its progress.
Atkins’ SEC has swiftly commenced rolling back various policies and instituting new, crypto-friendly regulations.
On June 12, the SEC announced it would be “retracting certain proposed rulemaking notices” issued under Gensler. Among them was Rule 3b-16, which broadened the definition of the term “exchange” to encompass DeFi protocols.
Related: SEC to shape crypto policy with ‘notice and comment,’ states Atkins
It also eliminated a rule mandating investment firms to maintain client assets with a “qualified custodian,” a definition from which crypto exchanges and wallet providers were typically excluded.
Atkins has also instructed staff to develop a so-called “innovation exemption.” This new exemption for specific crypto- and blockchain-related financial products would purportedly facilitate quicker market entry for new onchain products.
The SEC chair’s novel approach of “notice and comment” instead of “regulation by enforcement” has been praised not only by the crypto sector but by peer regulator Caroline Pham, acting chair of the Commodity Futures Trading Commission.
With regulatory reform just beginning — whether through new legislation or agency realignments — the cryptocurrency industry is optimistic for future advancements in the US. ETFs might be primed for significant growth in this evolving landscape.
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