Before Ethereum ETFs even hit the market, US ETF providers are already eyeing their next cash cows. Last week, asset managers VanEck and 21Shares submitted applications for the first-ever Solana-based exchange-traded funds (ETFs) — causing the token to jump as much as 8% while its value has soared nearly 800% over the past year. The current administration might not be keen on Solana ETFs, but a pro-crypto Trump administration could accelerate the launch of crypto ETFs beyond just Bitcoin and Ether.

• Currently, only Bitcoin ETFs are approved in the US, with Ethereum-based ETFs still awaiting the SEC’s final approval. Analysts predict that Ether ETFs could see $5B in inflows within the first five months.
• The approval of Ether ETFs may open the door for Solana ETFs by 2025 — and market-making firm GSR suggests that if Solana captures even 5% of Bitcoin’s historical inflows, its value could triple.

Three’s a trend: If approved, these ETFs could pave the way for broader crypto acceptance through regulated investment options. According to Nate Geraci from ETF Store, getting a spot Solana ETF approved would require either a new regulatory framework or SEC recognition of Solana as a non-security commodity. Both scenarios are unlikely under the current administration, indicating that VanEck and 21Shares are banking on a more crypto-friendly government in the future.