Solana has the edge in the crypto ETF race: Bloomberg Intelligence

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way.”

6/11/25 10:44AM

New crypto ETFs might materialize sooner than previously anticipated, according to analysts. Bloomberg Intelligence’s James Seyffart gave Solana ETFs a 90% chance of approval, the odds-on favorite for being the first to receive the SEC’s green light.

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff,” Bloomberg analyst Eric Balchunas wrote in a post, which also included Seyffart’s note saying the SEC might approve ETFs tracking broad crypto indexes in July.

Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
— Eric Balchunas (@EricBalchunas) June 10, 2025

“The agency also may act early on spot Solana and staking ETF filings in response to Rex-Osprey’s attempt [to] use regulatory legal workarounds to launch Solana and Ether staking products,” Seyffart wrote.

Seyffart also put the odds of a litecoin ETF approval at 90%. Meanwhile, an XRP ETF has an 85% chance of approval, while dogecoin and hedera funds have an 80% chance of approval.

Lower down the list, Seyffart gave cardano, polkadot, and Avalanche ETFs a 75% chance of approval. As of April, there were more than 70 altcoin ETF filings, and the list has continued to grow.

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

Solana has the edge in the crypto ETF race: Bloomberg Intelligence

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