The landscape of digital asset investment vehicles in the United States is rapidly evolving, with considerable attention now shifting beyond Bitcoin and Ethereum. As regulatory bodies continue to review applications for exchange-traded funds (ETFs) tied to various cryptocurrencies, a dynamic race is unfolding to see which altcoin or diversified crypto product will gain the next significant approval. This development marks a pivotal moment for expanding institutional access to the broader digital asset ecosystem.
The Shifting Landscape of Altcoin ETFs
Recent discussions among industry experts highlight an unexpected frontrunner in the quest for the next U.S. crypto ETF approval. Nate Geraci, President of ETF Store, recently speculated that Grayscale’s multi-asset crypto fund, which includes XRP among its holdings, might secure regulatory clearance even before a highly anticipated Solana ETF. This assessment emerges as the U.S. Securities and Exchange Commission (SEC) actively evaluates several proposals for spot altcoin ETFs. While Solana has been a focal point, particularly after the SEC reportedly requested updated documentation from ETF issuers, the immediate trajectory of approvals could diverge.
Grayscale’s Strategic Play with GDLC
Grayscale’s Digital Large Cap Fund (GDLC) is increasingly seen as a strong contender. Its diversified structure and existing regulatory framework give it a distinct advantage. The fund holds a basket of leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Currently valued at approximately $47 per share, GDLC has shown a 14% gain over the past month. Although BTC and ETH dominate its composition, it also provides a modest exposure to XRP and other altcoins, offering investors a broad entry point into the crypto market. Earlier this year, Grayscale submitted an application to convert GDLC into a full-fledged ETF, a move that would significantly streamline institutional investment into a wider array of crypto assets.
Analyst Projections and Market Implications
Analysts at Bloomberg and prediction markets like Polymarket have indicated high probabilities for the approval of both Solana and XRP ETFs in 2025. However, the unique structure of Grayscale’s GDLC, combined with the SEC’s recent approvals for certain mixed crypto funds, could strategically position XRP for an earlier entry into the ETF market. Should Grayscale’s diversified fund receive approval, it would signify a crucial milestone: the increasing acceptance of crypto investment products that extend beyond the initial focus on Bitcoin and Ethereum. Such an approval could pave the way for a much broader embrace of altcoins on Wall Street, further integrating digital assets into mainstream financial portfolios.
Jason Walker, aka “Crypto Maverick,” is the energetic new member of cryptovista360.com. With a background in digital finance and a passion for blockchain, he makes complex crypto topics engaging and accessible. His mix of analysis and humor simplifies volatile market trends. Outside work, Jason explores tech, enjoys spontaneous road trips, and American cuisine. Crypto Maverick is ready to guide you through the ever-changing crypto landscape with insight and a smile.