Blockworks Group co-founder Jason Yanowitz recently revealed that a meeting with a top-five global bank could signal what’s next in the crypto ETF space. According to Yanowitz, the bank grouped the cryptocurrency market into two categories: Bitcoin, Ethereum, XRP, and Solana as the top tier, and all other cryptocurrencies as “everything else.”
This internal classification reflects the bank’s confidence in these four digital assets, despite some differences in market capitalization rankings. While Bitcoin and Ethereum lead by market cap, XRP and Solana have earned institutional credibility, especially with Solana ranked fifth (excluding stablecoins) yet still making the bank’s top four.
Solana and XRP ETFs Gaining Momentum
Following the success of Bitcoin and Ethereum spot ETFs, asset managers are now pushing for the next phase—spot ETFs for Solana and XRP. Yanowitz, referencing the bank’s confidence in these assets, suggested that the SEC is likely to approve Solana ETFs in the coming months, with XRP ETFs potentially following soon after.
While Litecoin had been considered a strong candidate for the next ETF wave, Solana and XRP are now viewed as front-runners. This shift aligns with predictions from Bloomberg analysts Eric Balchunas and James Seyffart, who initially gave Solana and XRP ETFs approval odds of 70% and 65%, respectively.
Regulatory Clarity Boosts Approval Odds
One key factor driving renewed optimism is regulatory clarity. The U.S. Securities and Exchange Commission (SEC) previously labeled Solana and XRP as securities—dampening their ETF prospects. However, the SEC has since dropped enforcement actions against both tokens, significantly improving the outlook.
Following this development, Balchunas and Seyffart raised Solana’s approval odds to 90% and XRP’s to 85%. These figures now rival those of Litecoin, whose ETF approval was previously considered almost certain.
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SEC ETF Decision Deadlines Approaching
According to Bloomberg Intelligence, the SEC must make final decisions on these ETF applications by October 2025. The Solana ETF decision is due by October 10, while the XRP ETF decision deadline is October 17. Litecoin’s decision will come slightly earlier, on October 2, 2025.
With growing institutional support, favorable regulatory trends, and clear timelines, Solana and XRP ETFs now appear increasingly likely. If approved, these ETFs could dramatically increase access to both tokens and fuel further mainstream adoption.
The crypto market now watches closely as October 2025 approaches, potentially marking a new chapter for Solana, XRP, and digital asset investment as a whole.
