TL;DR
- Crypto exchange-traded product (ETP) filings in the United States have surged to 155, now covering 35 digital assets, with Bitcoin, Solana, and XRP leading in applications.
- The SEC’s decisions on key filings such as Solana, XRP, and Hedera Hashgraph ETFs are expected between November and December 2025, potentially opening new investment avenues.
- Meanwhile, Bitcoin and Ethereum ETFs are showing renewed inflows as digital assets rebound in late October, signaling sustained institutional interest.
Senior Bloomberg ETF analyst Eric Balchunas revealed that the number of crypto ETP applications in the U.S. has reached 155, representing a significant expansion in investor interest across 35 digital assets. The data, compiled by industry researcher James Seyffart, shows Solana and Bitcoin tied with 23 filings each, followed by XRP with 20 and Ethereum with 16. Basket ETPs that track multiple cryptocurrencies account for 10 filings, showing an appetite for diversified exposure.
Smaller assets like Litecoin, Avalanche, Dogecoin, and Polkadot have between four and five filings each, while tokens such as SEI, Hedera, SUI, BNB, and Cardano have three. Emerging assets like NEAR, Chainlink, and Tron have begun to appear, suggesting growing institutional interest beyond traditional leaders. Balchunas noted that total filings could surpass 200 within the next year if current trends persist.
U.S. Gears Up For Crypto ETF Approval Wave
The U.S. Securities and Exchange Commission (SEC) faces a packed agenda toward the end of 2025 as it prepares to evaluate multiple pending ETP applications. Several filings under the 19b-4 and S-1 formats are awaiting decisions, with deadlines stretching from November 2025 through early 2026. The Solana and XRP proposals by Franklin Templeton, along with HBAR-related ETFs, are among the most anticipated.
A prolonged U.S. government shutdown has delayed several reviews, including applications from Grayscale, 21Shares, and CoinShares. These setbacks have shifted decision timelines into late 2025, while other filings for assets like Polkadot and Avalanche will face reviews later in the year.
Institutional Dialogue And Market Confidence Strengthen
On Capitol Hill, top executives from major crypto firms including Coinbase, Galaxy Digital, Ripple, and a16z are expected to meet with pro-crypto Senate Democrats to discuss digital asset regulation.
Meanwhile, spot Bitcoin ETFs recorded $477 million in net inflows on Tuesday, ending a four-day outflow streak and lifting total October inflows to $4.21 billion. Ethereum ETFs also saw strong activity, with more than $140 million in net inflows across multiple issuers. Bitcoin traded near $114,000, marking a 9% rebound from last week’s lows and underscoring continued institutional momentum heading into Q4 2025.
