News 
April 21, 2025 
4 min. 
Crypto ETFs are gaining traction as the SEC hints at a green light for altcoin-based funds, with 72 proposals currently pending approval. While asset managers show increasing interest in expanding institutional exposure to altcoins, Bitcoin remains the undisputed leader, holding 90% of global crypto fund assets.
Although new ETF listings, such as Ethereum’s recent approval, can boost token liquidity and attract fresh inflows, matching Bitcoin’s dominance in the ETF space still seems like a distant goal for any other crypto asset.
Bitcoin Leads the Pack in the Crypto ETFs Arena
Crypto ETFs are transforming the digital assets landscape, with Bitcoin continuing to dominate. Over the past month, Bitcoin ETFs have reshaped investor sentiment and capital flows. Despite some recent outflows, U.S.-based crypto ETFs have reached a total net asset value of $94.5 billion.
Surge in Crypto ETFs Applications
The success of Bitcoin ETFs has opened the floodgates for new proposals. Asset managers see this as a prime opportunity to expand into crypto-related offerings. As a result, 72 crypto ETF proposals are now waiting for SEC approval.
ETF analyst Eric Balchunas captured the scale of this movement:
“There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin, and Solana to Penguins, Doge, and 2x MELANIA — and everything in between. Gonna be a wild year.”
Regulatory Landscape Shifts in Favor of Crypto
The SEC’s evolving stance on digital assets has encouraged issuers to act quickly. The regulator now shows greater willingness to approve a wider variety of crypto ETFs. Firms are racing to create products that can rival the breakout success of Bitcoin.
Bitcoin Maintains a Massive Lead
Despite this wave of interest, Bitcoin still controls 90% of all crypto ETF assets. Competing funds face a steep climb if they hope to claim even a small portion of that market. BlackRock’s Bitcoin ETF, for instance, earned the title of “the greatest launch in ETF history.”
While Ethereum ETF options and similar altcoin products have attracted liquidity, they haven’t disrupted Bitcoin’s firm grip on institutional investors.
Limited Focus on Altcoins in Proposals
Out of the 72 proposals, only 23 specifically mention altcoins such as Solana, XRP, or Litecoin. Many others focus on new derivatives tied to already-approved ETFs, rather than entirely new assets.
Analysts estimate that even combined, these altcoin ETFs could only displace around 5–10% of Bitcoin’s current ETF dominance. Moreover, any major disruption to Bitcoin’s market would likely send shockwaves through the broader crypto sector.
A Realistic Outlook for Altcoin ETFs
Altcoin ETFs are still worth pursuing. These products consistently bring fresh liquidity and investor interest to their underlying tokens. Issuers are already stockpiling assets in anticipation of future inflows.
Still, we must keep expectations realistic. Even if XRP or Solana ETFs secure approval, Bitcoin will likely continue to lead the crypto ETF market by a wide margin. Its global reputation as a reliable store of value makes it the top choice for institutional investors.
