Bloomberg’s top ETF analyst duo Eric Balchunas & James Seyffart just calculated the total number of exchange-traded fund (ETF) submissions that landed on the United States Securities and Exchange Commission’s (SEC) table over the past few quarters.
Who’s Winning The ETF Land Rush So Far?
With 155 crypto currency ETF submissions already in place, Bloomberg’s Eric Balchunas expects this figure to hit 200 within the next 12 months, especially if the United States (USA) soon carries on governmental operations as normal.
Forecasting a “total land rush” coming up, Mr. Balchinas has drawn the public’s attention to the 35 different digital assets that are presently mentioned in these submissions. The most intricate part about this list is that Solana’s (SOL) ETF filings since 2024 have topped Ripple (XRP), & Ethereum (ETH), two higher-ranked alternative crypto currencies.
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Surely, Ethereum’s 16 ETF filings are not in the same situation as the rest, as no other altcoin had seen approval in a standalone ETF product so far. However, Solana’s (SOL) ETF pitches outweigh thher’s overall submissions, approved or pending.
Are Solana ETFs Really Coming Before XRP?
Notably, the 23 pending SOL ETFs surpassed Ripple (XRP) 23 to 20, even though most market connoisseurs agree that Ripple’s ETF products have a slightly better chance of approval by year-end due to the long-awaited solving of Ripple vs. SEC case.
With the peaceful settlement of $50 million, Ripple’s largest legal troubles might have ended once & for all, but there’s still plenty of bases to cover in order to legitimize the global adoption of XRP Ledger. With over 300 partnerships and licenses in over 60 jurisdictions, Ripple Labs is now striving for their own banking license in the USA.
Since the smooth passage of the Genius & Clarity Acts, the doors for Ripple’s own RLUSD stablecoin have been opened. If RLUSD carries on the institutional-grade adoption, XRP coin is also surely benefiting from it.
On the other hand, on-demand liquidity and extremely cheap transactions are traits uniting both Solana (SOL) & XRP Ledger, which explains the high odds of 95%, estimated by Bloomberg’s ETF duo.
On The Flipside
- In theory, Ripple’s (XRP) ETF submissions have an chronological edge over Solana due to earlier deadlines, starting from October 18, 2025.
Why This Matters
In case of the United States Securities and Exchange Commission (SEC) clearing the backlog of the 155 ETF filings this year or early 2026, top altcoins like XRP & SOL can expect a major liquidity boost as seen in the previous examples of approved Bitcoin & Ether ETF products.
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People Also Ask:
It’s a competition to see which cryptocurrency—XRP or Solana (SOL)—gets approved first as an exchange-traded fund (ETF) in the U.S., letting regular investors buy them easily like stocks.
The first to get an ETF might attract more investors and push its price up, giving it an edge in the crypto market and showing regulators trust it more.
The U.S. government shutdown has paused the SEC (the regulator), delaying reviews of both XRP and SOL ETF applications until the shutdown ends.
Solana might edge out slightly with more ETF filings (23 vs. XRP’s 20), but it depends on how fast the SEC works after the shutdown & any legal issues each faces.
The SEC will start reviewing the backlog, and we could see decisions on XRP or SOL ETFs by late 2025 or early 2026, depending on how quickly they clear the queue.
