TLDR
- The reopening of the U.S. government unleashed a wave of approvals for Exchange Traded Funds (ETFs) for alternative cryptocurrencies.
- Litecoin and Hedera debuted first, followed by XRP and a rapid expansion with multiple Solana ETFs underway.
- Grayscale’s Dogecoin Trust is set to become the first spot memecoin ETF on November 24th.
The cryptocurrency market in the United States has reached an unprecedented regulatory inflection point. After years of focusing only on Bitcoin and Ethereum, the landscape transformed in a matter of weeks. The final stretch of the tenth month of the year marked the beginning of the new era of Altcoin ETFs on Wall Street, with Hedera, Litecoin, and Solana officially entering the market, allowing traditional investors access to the assets without having to directly custody them.
Two pioneering products from Canary Capital led the launch wave: LTCC (Litecoin) and HBR (Hedera), which became the first ETFs to track the spot prices of their respective networks.
These were quickly joined by the Bitwise Solana Staking ETF (BSOL), which immediately captured attention due to Solana’s strong performance maintained between 2024 and 2025. The momentum held firm in November with another significant milestone: the arrival of the first XRP ETF in the U.S.
The Institutional Battle Centers on Solana and the Dogecoin Effect
Recently, thanks to the reopening of the U.S. federal government, an avalanche of previously stalled ETF applications and approvals was generated. Eric Balchunas, a Bloomberg analyst, indicated that issuers are aggressively competing to secure early market share. This week alone (November 19), two additional Solana ETFs are expected to launch: the Canary SOL Spot ETF (SOLC) and the Fidelity Solana ETF (FSOL), which will report a competitive 0.25% fee.
The entry of Fidelity, one of the largest asset managers, significantly impacts the segment—a space where BlackRock has not yet entered. Meanwhile, Bitwise’s Solana ETF (BSOL) has already accumulated approximately $450 million in assets, leading the Altcoin ETFs on Wall Street category.
Amidst this institutional expansion, Litecoin (LTC) is attempting to stabilize near $95, reclaiming support after a recent pullback toward the $90 region. The technical chart shows continuous consolidation between $88 and $105, a range that has contained the price for months. The Relative Strength Index (RSI) near 47 and the flat MACD lines indicate balanced momentum, reinforcing the current sideways structure. A breakout above $105 would open the way toward $120, while losing $88 would bring the $80 support into play.
With XRP already trading and Solana listings accelerating, the focus shifts to the next high-profile asset: Dogecoin. Based on regulatory filings, Balchunas projects that the Grayscale Dogecoin ETF will launch on November 24th, unless the SEC intervenes before the deadline. If confirmed, Dogecoin will make history by becoming the first memecoin with direct exposure in a U.S. ETF, further consolidating the rapid expansion of Altcoin ETFs on Wall Street.
