Fidelity Champions Cardano, Dogecoin ETFs Ahead of SEC’s 2025 Approval Decisions

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The SEC's proactive engagement with issuers is significantly boosting the prospects of exchange-traded funds (ETFs) for cryptocurrencies like Litecoin, Solana, and XRP, potentially reaching a 95% approval likelihood by 2025. This development signals a potential surge in crypto investment.

Bitcoin ETF inflows are projected to reach $50,000 by June 2025, reflecting strong investor confidence and fostering optimism for potential Cardano and Dogecoin ETFs.

While SUI and TRON face regulatory challenges resulting in lower approval probabilities, Polkadot and Avalanche ETFs are gaining traction as decisions approach in 2025.

The SEC's active dialogues with ETF issuers have generated considerable optimism, particularly for Litecoin, Solana, and XRP. Bloomberg analysts have highlighted the SEC's proactive stance as a key factor influencing potential approvals in 2025. Filings from Grayscale, Bitwise, and VanEck are further bolstering confidence in the possibility of Litecoin and Dogecoin ETFs.

The SEC's acknowledgments of 19b-4 filings effectively classify assets such as Solana and Cardano as commodities. This clarity, coupled with the CFTC's oversight of futures, strengthens the approval prospects for Polkadot and HBAR. Decisions expected between July and December 2025 suggest a potential wave of crypto ETF approvals.

Basket ETFs Target Broad Crypto Exposure

Grayscale, Bitwise, Hashdex, and Franklin announced plans for basket ETFs on October 15, 2024, aiming to provide diversified exposure to the cryptocurrency market, according to a Bloomberg report. These ETFs, which include Litecoin, Solana, XRP, and Avalanche, utilize Coinbase Custody and are targeting an SEC decision by July 2, 2025. Their strategic objective is to attract both institutional and retail investors.

These basket ETFs offer diversified portfolios that may also include Cardano and Polkadot. The SEC's commodity classification for HBAR and Dogecoin increases the likelihood of their approval. Institutional support from firms like Fidelity and 21Shares is further fueling market optimism.

Bitcoin ETF Flows Reflect Market Strength

Recent market activity has reshaped investment priorities, with Bitcoin ETF flows indicating robust investor confidence. Inflows increased from $0 in April 2024 to a projected $50,000 by June 2025, reaching $40,000 by April 1, 2025. This surge highlights the growing demand for regulated crypto investment products, including Solana ETFs.

Source: Farside

The projected $50,000 peak by June 21, 2025, underscores a bullish outlook for Litecoin and XRP ETFs. Institutional enthusiasm for Cardano and Dogecoin mirrors the positive sentiment surrounding Bitcoin. These flows suggest a healthy and expanding ecosystem for crypto ETF adoption.

Emerging Cryptos Face Approval Challenges

Litecoin, Solana, and XRP are leading the pack with a 95% probability of approval, while newer assets like SUI and TRON face greater challenges. SUI's April 8, 2025, filing by Canary lacks clear commodity status, resulting in a lower approval chance of 60%. TRON's undefined approval odds and a projected timeline extending into 2026 reflect the regulatory hurdles facing emerging cryptocurrencies.

More established assets like Polkadot and Avalanche benefit from clearer regulatory pathways. The SEC's cautious approach to newer tokens continues. Final decisions, expected between July and December 2025, will significantly shape the future of the crypto ETF landscape.