Major Altcoin ETF Rush: Waiting for SEC Approval in October

The upcoming month promises significant activity in the crypto markets, as the U.S. Securities and Exchange Commission (SEC) prepares to announce its final rulings on several high-profile cryptocurrency ETFs. These decisions could potentially open the floodgates for mainstream investment in digital assets like Solana, XRP, Litecoin, and meme coins such as Dogecoin. With key deadlines approaching in October, investors and industry insiders are watching closely for regulatory clarity and potential market shifts.

The crypto industry could experience a surge of new exchange-traded funds (ETFs) as the U.S. SEC approaches decision deadlines in October. These ETFs are connected to a range of popular altcoins, including Solana (SOL), XRP, Litecoin (LTC), and memecoin Dogecoin (DOGE), with final rulings expected throughout the month. The earliest decision might come with Canary’s Litecoin ETF, with a deadline of Oct. 2, while approvals for Grayscale’s Solana and Litecoin trusts are due by Oct. 10. The latest on the list is WisdomTree’s XRP fund, with a final deadline of Oct. 24, according to Bloomberg ETF analyst James Seyffart.

Analysts have noted that approval of these ETFs could catalyze a new altcoin rally, with increased retail and institutional participation. In August, crypto market analyst from Bitfinex predicted that ETF approvals might ignite a fresh “altcoin season,” offering investors exposure to cryptocurrencies with potentially less risk through regulated investment vehicles.

‘Enormous’ upcoming weeks for crypto ETFs

Crypto ETF expert and NovaDius Wealth Management president Nate Geraci remarked that the next few weeks will be pivotal, describing the period as “enormous” for spot crypto ETFs due to the looming deadlines. “This week kicks off with the decision on Canary’s spot Litecoin ETF, followed by determinations on Solana, Dogecoin, XRP, Cardano (ADA), and Hedera Hashgraph (HBAR),” he explained. However, he emphasized that the SEC has the authority to approve any or all of these applications at any moment before their respective deadlines.

Meanwhile, crypto trader Daan Crypto Trades has labeled October as “ETF month” given the volume of filings, though he notes that major players like Fidelity and BlackRock are absent from this cycle. “None of the deadlines in October involve filings from Fidelity or BlackRock, the biggest players in the crypto ETF scene,” he stated. “It’s worth paying attention to in the coming weeks, as approval decisions could reshape market dynamics.”

In June, Seyffart estimated a 90% or higher chance of SEC approval for these pending ETF applications, indicating a strong likelihood of regulatory green lights by the end of the year.

SEC streamlining approval processes for future ETFs

The SEC has faced delays on multiple crypto ETF applications throughout 2025 but has also begun taking steps to expedite the process. Notably, on September 17, the regulator approved a new listing standard for commodity-based trust shares, which could accelerate the approval of potential spot crypto ETFs.

Seyffart suggested that this regulatory shift signals an upcoming wave of spot crypto exchange-traded products, aligning with broader industry expectations. Fellow ETF analyst Eric Balchunas noted that at least 22 cryptocurrencies with futures on Coinbase are eligible for spot ETF approval, highlighting the expanding scope of crypto assets that could soon enter regulated investment markets.

Since the listing standard change, asset manager Hashdex has already expanded one of its crypto ETFs to include XRP, Solana, and Stellar, demonstrating the industry’s progress in aligning with new regulatory frameworks.

As the crypto markets await decisive regulatory outcomes, the broader adoption of cryptocurrency — including Bitcoin, Ethereum, and emerging DeFi and NFT projects — may accelerate, shaping the future landscape of crypto regulation and institutional involvement.