9-7-2025 – The U.S. Securities and Exchange Commission (SEC) is nearing approval of multiple spot cryptocurrency exchange-traded funds (ETFs), a development that could integrate digital assets further into mainstream finance, first reported by The Block. The SEC’s ongoing discussions with ETF issuers indicate a departure from its historically cautious stance, potentially paving the way for ETFs tracking assets like Solana (SOL), XRP, Dogecoin (DOGE), and Cardano (ADA).
First spot solana staking ETF is officially live. Healthy start to trading for a new ETF with ~$8 million in trading in first 20 min. pic.twitter.com/HBl7zzVv1F
— James Seyffart (@JSeyff) July 2, 2025
This shift follows the SEC’s approval of Bitcoin and Ethereum spot ETFs, which triggered significant market inflows and price surges, with Bitcoin reaching $108,870.13 and a market cap of $2.17 trillion, per CoinMarketCap. The agency is now working on a streamlined framework to simplify the ETF listing process, aligning crypto products with traditional financial instruments. Industry leaders, including Gregory King of Osprey Funds, view this as a pivotal moment, though they caution that approvals will be gradual.
Matt Hougan of Bitwise Asset Management emphasized the significance of the SEC’s guidance, noting its role in legitimizing crypto ETFs. Market optimism is high, driven by Bitcoin’s 64.26% market dominance and a 32.11% price increase over the past 90 days. The SEC’s collaborative approach with exchanges aims to reduce listing complexities and enhance investor protections, addressing long-standing concerns about market manipulation. Investors and analysts are closely monitoring the SEC’s next moves, with approvals potentially reshaping the crypto investment landscape by late 2025.