Regulatory Shift Sparks ETF Application Boom

The US cryptocurrency market is witnessing unprecedented activity as investment firms filed 【31】 altcoin ETF applications in just six months, according to Cointelegraph Research. This surge follows the SEC's approval of Bitcoin and Ether ETFs earlier this year, signaling a potential policy shift under new leadership.

Major Players Enter the Arena

Traditional finance giants are leading the charge, with VanEck applying for BNB and AVAX ETFs, while WisdomTree and Franklin Templeton pursue XRP-based products. ——Notably——, even memecoins are getting institutional attention through REX-Osprey's proposed Trump-themed token ETF.

Bloomberg analyst Eric Balchunas suggests Litecoin and Solana ETFs may be first to market, with approval odds exceeding 60% for several applications. The SEC's recent request for clarification on staking mechanisms in Solana ETF filings indicates growing regulatory comfort with altcoin-specific features.

Market Impact Remains Uncertain

Despite the regulatory optimism, altcoin dominance continues to decline, currently sitting at just 【35%】 of total crypto market capitalization. ETH's lackluster performance post-ETF approval serves as a cautionary tale, with some analysts warning that altcoin ETFs may attract significantly less capital than their Bitcoin counterparts.

——The real test will come when these products hit the market——, said Michaël van de Poppe, a prominent crypto analyst. He maintains that the current market conditions could set the stage for "the biggest altcoin bull run in history."

New SEC Leadership Drives Change

Chairman Paul Atkins has moved quickly to reverse several controversial policies from the Gensler era, including proposed rules that would have classified DeFi platforms as exchanges. The commission's new "innovation exemption" framework and collaborative approach with the CFTC suggest a more crypto-friendly regulatory environment emerging in Washington.

As the SEC reviews the flood of applications, industry observers are watching for whether this marks the beginning of true institutional adoption for altcoins or simply creates new financial products lacking substantial demand. With at least 【10】 approvals expected by year-end, 2025 could become a defining year for crypto's integration into traditional finance.