The crypto market could soon see the arrival of new spot ETFs — this time for Solana (SOL) and XRP — according to fresh insights from Jason Yanowitz, co-founder of the crypto media platform Blockworks. After a recent meeting with a top-five global bank, Yanowitz shared that Solana and XRP are now being considered top-tier assets, potentially setting them up as the next likely candidates for exchange-traded fund (ETF) approval.
According to Yanowitz, during the meeting, the bank divided the crypto world into two groups: “the top four” and “everything else.” In their view, the top four crypto assets include Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL). This suggests these assets have achieved a level of credibility and importance that sets them apart from the rest of the crypto market.
Interestingly, this bank’s ranking doesn’t rely solely on market capitalization. While Bitcoin and Ethereum clearly lead the pack, XRP and Solana have also been identified as key players — despite other tokens occasionally outranking them in daily market charts. The bank’s classification likely reflects their focus on regulatory clarity, adoption potential, and institutional interest.
Spot ETFs have been one of the hottest topics in the crypto world since the U.S. Securities and Exchange Commission (SEC) approved Bitcoin ETFs earlier this year. These financial products allow investors to gain exposure to Bitcoin without actually buying the asset directly, offering a more traditional investment route through the stock market.
Ethereum followed shortly after, with major financial firms started Ethereum ETFs as well. This has sparked interest from asset managers who are now looking to expand ETF offerings to other digital currencies, including Solana and XRP.
Solana and XRP are strong candidates for ETF approval for several reasons. Both are widely used, have large market caps, and serve unique purposes in the blockchain ecosystem.
Solana is known for its high-speed transactions and low fees, making it popular for DeFi projects, NFTs, and dApps.
XRP, operated on the XRP Ledger by Ripple Labs, focuses on fast and low-cost cross-border payments and has long been a favorite among banks and financial institutions.
Another reason is their improved standing with regulators. In the past, the SEC labeled both XRP and Solana as securities in enforcement actions. However, in recent developments, the agency dropped these allegations, which has improved the chances of both tokens being accepted for spot ETFs.
Initially, Bloomberg ETF analysts gave XRP and Solana spot ETFs only a 65–70% chance of approval due to ongoing legal uncertainties. But since the SEC dropped the security classification for both tokens, their approval odds have jumped to 85% for XRP and 90% for Solana.
Yanowitz believes the SEC could greenlight Solana ETFs within the next few months, with XRP following shortly after. This timeline lines up with regulatory deadlines published by Bloomberg Intelligence.
According to Bloomberg, the SEC is expected to make decisions on spot ETF filings for these two cryptocurrencies later this year:
Solana ETFs: Deadline by October 10, 2025
XRP ETFs: Deadline by October 17, 2025
Litecoin ETFs, which were also considered strong candidates, have an earlier deadline of October 2, 2025
Although Litecoin was initially seen as a likely next choice for ETF approval, Solana and XRP may now be taking the lead, especially given their wider institutional support and technology use cases.
If the SEC approves ETFs for Solana and XRP, it would mark a major milestone for both assets and the broader crypto industry. ETF approvals could bring in new institutional investors, boost market legitimacy, and increase liquidity — all positive signs for long-term growth.
It also reflects a shift in how traditional financial institutions view digital assets. With a top-five bank recognizing XRP and Solana as part of the “top four,” it’s clear that these tokens are no longer seen as niche assets but rather as major players in the future of finance.
The potential approval of Solana and XRP spot ETFs is generating a lot of excitement in the crypto space. With regulatory clarity improving and large banks acknowledging their significance, these tokens are poised to enter a new phase of institutional adoption.
For crypto holders and traders, this could be an opportunity to watch closely. If spot ETFs for Solana and XRP do receive approval, it could open the door to a wave of capital inflows — and possibly a fresh bull run in altcoins.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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