Key Insights from 72 Crypto ETFs Flooding SEC Desk

The cryptocurrency market is charging toward mainstream finance with unprecedented force. As of April 2025, 72 crypto ETF filings have landed on the SEC’s desk—a 300% increase from the handful seen in 2024.

This surge reflects Wall Street’s growing appetite for digital assets, with XRP and Solana leading the pack, meme coins are crashing the party.

New sworn in SEC Chair Paul Atkins is facing a defining moment with his $6 million crypto portfolio. Analysts call it a tipping point.

A Flood of Crypto ETF Filings

Seventy-two filings in a single year are no small feat. In 2024, crypto ETFs were a niche experiment, with fewer than 20 applications total, according to James Seyffart, ETF analyst at Bloomberg Intelligence.

Now, the number has exploded, fueled by institutional interest and regulatory clarity.

The filings span a range of assets, but two names dominate: XRP and Solana, which together account for 41 of the 72 applications, or 56.9%. The sheer volume underscores crypto’s push to bridge the gap with traditional markets.

XRP ETFs leads with 18 filings, a 25% share, thanks to Ripple’s landmark legal victory in March 2025. The ruling, which classified XRP as a non-security, erased years of uncertainty and opened the floodgates for ETF proposals.

Solana follows with 17 filings, or 23.6%, riding its reputation as a high-speed blockchain powering a thriving DeFi ecosystem.

“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” noted Eric Balchunas, Bloomberg ETF expert.

Their combined dominance—over half the total—highlights a calculated bet on established, scalable networks.

Then there’s the wildcard: meme coins. Filings for DOGE, PENGU, TRUMP, MELANIA, and BONK have stunned observers, with some proposing 2X leveraged funds for TRUMP, MELANIA, and BONK.

Once dismissed as fleeting fads, these tokens now claim a slice of the ETF pie. Seyffart pointed out their growing retail appeal. Yet approval remains a long shot.

Meme coins’ volatility—TRUMP famously swung 50% in a day—could spook regulators. Still, their presence signals how speculative fervor is reshaping the crypto landscape.

New SEC Boss Paul Atkins’ $6 Million Dilemma

At the helm is SEC Chair Paul Atkins, who disclosed $6 million in crypto holdings in April 2025. His stake raises eyebrows: Is he a visionary aligning with innovation, or a regulator with a conflict of interest?

With a decision due within months, his tenure’s legacy hangs in the balance. Analysts predict a mixed outcome: XRP and Solana ETFs may get the green light, while meme coin proposals face steeper hurdles.

The data paints a vivid picture: 72 filings, 41 tied to XRP and Solana, and a handful of meme coin outliers. Approval could unlock billions in institutional capital, per a Goldman Sachs estimate from March 2025. Rejection, however, might stall crypto’s Wall Street dreams.

This is the SEC’s biggest test under Atkins. The crypto ETF race is on, and his verdict will echo for years—whether it’s a breakthrough or a bottleneck.

The regulatory climate for cryptocurrencies in the United States has undergone a notable transformation. Where caution once reigned, there’s now a growing openness to innovation.

Bitcoin’s Commanding Dominance

The SEC has begun greenlighting new financial products, hinting at a more accommodating stance.

This shift has sparked a rush among ETF providers eager to replicate the runaway success of Bitcoin-based offerings.

Bitcoin enjoys a towering advantage in the crypto ETF space, commanding roughly 90% of the global market, according to Bloomberg ETF analyst Eric Balchunas.

BlackRock’s Bitcoin ETF, dubbed “the greatest launch in ETF history,” set a benchmark that’s tough to rival. For new entrants, overtaking Bitcoin’s entrenched position feels like scaling a mountain.

Even promising alternatives, like Ethereum ETF options, have drawn new investment but failed to shake Bitcoin’s dominance.

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