Nate Geraci Indicates Grayscale Fund with XRP is Next in Line for Approval Before Solana ETFs

Geraci’s Prediction on the Next Crypto ETF Approval

ETF Store President Nate Geraci recently shared his insights regarding the potential for the next crypto Spot Exchange-Traded Fund (ETF) to be approved by regulators. He suggested that a Solana ETF might not be favored by the US Securities and Exchange Commission (SEC). According to him, the SEC has been more inclined to sanction grayscale multi-asset funds, such as those including XRP and Cardano, over Solana’s spot ETF.

Next Grayscale Fund on the Horizon

Geraci specifically mentioned that the Grayscale Digital Large Cap Fund is poised for approval soon. Launched in 2018, this fund includes a range of advanced digital assets like Bitcoin, Ethereum, XRP, Solana, and Cardano. Currently, Bitcoin represents 78.77% of the fund, with Ethereum at 12.40%, XRP at 4.86%, Solana at 3.04%, and Cardano at 0.93%, based on data from June 11th.

In April, Grayscale submitted an S-3 form to the SEC to convert nearly $800 million in assets under management into ETFs. If this gets the green light, it would enable both institutional and retail investors to have broader access to digital assets.

The SEC has previously approved similar index products, like the mixed fund launched by Hashdex and Franklin Templeton in December, providing exposure to Bitcoin and Ethereum, the two largest cryptocurrencies by market cap.

Geraci pointed out that the Grayscale Large Cap Fund could receive regulatory approval even before the Solana Spot ETF. A recent Bloomberg report indicated that a Solana ETF might be approved as early as July 2025.

Momentum for AltCoin ETF Approvals

Meanwhile, analysts Eric Balknas and James Seifert from Bloomberg have suggested that Index Crypto Filing is among the funds the SEC is likely to approve next. Notably, Solana and Litecoin ETFs are the other funds with a 90% chance of receiving approval.

XRP ETFs have an 85% chance, while Dogecoin and Hbar ETFs have an 80% chance of being approved. Interestingly, recent developments hint that the SEC may indeed approve the AltCoin Spot ETF soon.

In a surprising twist, the SEC has an October deadline to decide on the filings for Solana, XRP, Dogecoin, Litecoin, Cardano ETFs, as well as Crypto Basket filings from July.

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