Altcoin ETF Race: Which Crypto ETF Will Debut First?

Table Of Contents

The Growing Competition for Altcoin ETFs
Top Contenders in the Altcoin ETF Race
Other Projects: HBAR, Polkadot?
Cardano ETF: An Unlikely Entrant?
Which Crypto ETF Will Be Approved First?
Conclusion

The Growing Competition for Altcoin ETFs

There is a competition brewing in the race for altcoin ETFs, as several asset managers are filing 19b-4 forms with the U.S. Securities and Exchange Commission. After dominating so much attention, Bitcoin and Ethereum ETFs might take a backseat to the alternative cryptocurrencies Litecoin, Solana, XRP, Dogecoin, and Cardano.

ETF analysts James Seyffart and Eric Balchunas consider these crypto ETF products revolutionary in terms of opening up institutional and retail access to the wider digital asset market.

But which altcoin ETF will be the first to the approval line?

Top Contenders in the Altcoin ETF Race

Litecoin ETF

✅ Deadline: October 2, 2025
✅ Applicants: Canary, Grayscale
✅ SEC View: Commodity classification
✅ Odds of Approval: 90% ✅

Solana ETF

✅ Deadline: October 10, 2025
✅ Applicants: Grayscale, VanEck, 21Shares, Canary, Bitwise
✅ SEC Stance: Non-commodity classification
✅ Approval Odds: 70% ✅

XRP ETF

✅ Final Deadline: October 17, 2025
✅ Applicants: Grayscale, Bitwise, Canary, 21Shares, WisdomTree
✅ SEC Stance: Non-commodity classification
✅ Approval Odds: 65% ✅

Dogecoin ETF

✅ Final Deadline: October 18, 2025
✅ Applicants: Grayscale, Bitwise
✅ SEC Stance: Commodity classification
✅ Approval Odds: 75% ✅

Other Projects: HBAR, Polkadot?

HBAR and Polkadot have not received definitive 19b-4 filings; everything depends on what the SEC eventually decides, which may well not happen this week, or indeed at all.

Cardano ETF: An Unlikely Entrant?

Grayscale’s 19b-4 filing for a Cardano ETF has created much market hype, pushing ADA’s price up by 16% to $0.79. With a market cap of $28.01B and $1B in 24-hour trading volume, Cardano’s entry into the ETF race is a big deal.

💡 Will the SEC approve an ADA ETF? There are no official approval odds yet, but Cardano’s strong community and regulatory resilience could make it a serious contender.

Which Crypto ETF Will Be Approved First?

While the question “which crypto ETF is best?” goes around in so many investor heads, the most important one might be: “Which will get approved first?”

📌 Key Insights:
✅ Litecoin ETF continues to be the strongest contender, with a 90% approval chance.
✅ Dogecoin ETF, Solana ETF have 75% and 70% chance of launching before the expected time frame.
✅ XRP ETF, Cardano ETF approval chances rise as SEC stance gets softer.

📌 What is an ETF?
An ETF (Exchange-Traded Fund) is an investment product that tracks the price of an asset or group of assets. Crypto ETFs provide access to digital currencies often through futures contracts or spot holdings, without requiring ownership or custody of the tokens directly.

Conclusion

As approvals for crypto ETFs continue to rise, 2025 could be the year of the first U.S.-listed altcoin ETF.
Whether it’s Litecoin, Solana, Dogecoin, XRP, or Cardano, investors and institutions alike will be watching closely. 🚀