Is This the Wildest ETF Race Ever? Solana and XRP Lead the Charge!

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Ah, the world of cryptocurrency ETFs—where logic takes a backseat, and chaos happily takes the wheel. Bloomberg’s very own expert, Eric Balchunas, has estimated that the number of cryptocurrency-related exchange-traded fund (ETF) filings has reached a truly gobsmacking 72. Yes, you read that right, seventy-two. Apparently, everyone wants in on the crypto action, like moths to a particularly confusing flame.

Now, if you’re wondering who’s got the top spot in this ETF derby, look no further than XRP, the token that’s practically married to Ripple. This cryptic creation is the front-runner for snagging a spot-based exchange-traded fund in the good ol’ U.S. of A. And as usual, the usual suspects are all jostling for position—Grayscale, Bitwise, and WisdomTree—each with their own ETF proposal, probably hoping to be the chosen one like contestants on a bizarre reality TV show.

But wait—there’s more! Solana (SOL) isn’t exactly trailing behind. No, it’s neck-and-neck with XRP, with a total of 11 filings to its name. Notably, even Fidelity, the granddaddy of mutual funds, has thrown its hat in the ring. So, let’s not count SOL out just yet. It’s the underdog, with a suspiciously large amount of paperwork backing it up.

Meanwhile, Litecoin (LTC) and Cardano (ADA) are lurking in the background, like slightly less exciting contestants in this wild ETF race. The SEC, under the steely gaze of Paul Atkins—who’s just been confirmed by the U.S. Senate earlier this month—is about to review all these filings. And who knows? Maybe he’ll pull a rabbit out of a hat and approve the lot of them, just to keep things interesting.

And because why settle for just the regular cryptocurrencies when you can get extra wacky, there are also ETF filings for tokens like Dogecoin (DOGE), Pepe (PEPE), and SUI. Clearly, if you can name a coin, someone’s filing an ETF for it. We live in strange times, folks.

As for the future, Balchunas believes that 2025 will be a “wild” year for cryptocurrency ETF offerings. And let’s be honest, if the past few years have taught us anything, it’s that “wild” might be an understatement.

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2025-04-22 11:22