The approval process for multiple encryption currency ETFs is accelerating. According to market analysis, the approval probability for SOL, XRP, and LTC spot ETFs is as high as 95%. The approval work by the U.S. Securities and Exchange Commission ( SEC ) has entered the final stage. At the same time, Nasdaq has incorporated these encryption assets into its index system, laying the groundwork for the listing of ETFs.

Industry observers point out that the key issue has shifted from "whether it will be approved" to "when it will be approved." The market expects that SOL may complete the approval process on October 10, and XRP on October 17, ushering in a new era for non-Bitcoin encryption currency ETFs.

If these ETFs are approved, the market will see significant inflows of capital. Taking the SOL ETF as an example, it is estimated to attract an additional $3 to $6 billion into the market, potentially replicating the market performance when the Bitcoin ETF was launched. In addition to SOL, XRP, and LTC, ETFs for other encryption assets such as ADA, DOGE, DOT, and AVAX are also in the approval queue.

The recent active interaction between the SEC and applicants shows that the regulatory attitude is changing, accelerating the financialization process of encryption assets. The increased participation of institutional investors may become a major feature of the crypto market in 2025, which will complicate the market competitive landscape, as individual investors, institutions, and large holders engage in a new round of capital competition in the same market environment.