SEC Approves Grayscale Crypto Fund, Opening Doors for XRP and Solana ETFs

The ETF gates just creaked open wider.

The US SEC has approved Grayscale’s request to convert its Digital Large Cap Fund into a spot ETF. That might sound boring—until you realize it’s the first approved ETF in the United States to include altcoins like XRP, Solana, and Cardano.

Why This Is Huge

This isn’t just another ETF. It’s a legal and regulatory first. With Bitcoin and Ethereum ETFs already live, the inclusion of XRP, SOL, and ADA hints that individual altcoin ETFs could be next.

The fund only holds about 8 percent exposure to these altcoins, which helps avoid the SEC’s typical liquidity concerns. Experts like Nate Geraci believe this is a sandbox strategy—let the regulator dip its toes before diving in.

What Comes Next?

If history repeats itself, we could see individual spot ETFs for XRP, Solana, and Cardano in the second half of the year. Bloomberg analysts now estimate a 90 percent chance of approval for these assets.

With regulatory clarity, institutional capital could soon find its way into these altcoins via traditional markets—something crypto investors have been waiting for.

Conclusion

This isn’t just about Grayscale. It’s about opening the door to a wave of altcoin ETF products that could bring in billions in new capital. The crypto ETF race just got a whole lot more interesting.