The U.S. Securities and Exchange Commission (SEC) is entering a critical period for the cryptocurrency market, with 16 exchange-traded fund (ETF) applications awaiting final approval in October. The decisions cover major altcoins such as Solana (SOL), XRP, Litecoin (LTC), and even Dogecoin (DOGE), sparking speculation of a potential altcoin rally.
Key Deadlines Approaching
The first decision comes on October 2 with Canary’s spot Litecoin ETF. This will be followed by Grayscale’s Solana and Litecoin trust conversion on October 10. The final decision of the month is scheduled for October 24 on WisdomTree’s XRP fund, according to Bloomberg ETF analyst James Seyffart. Importantly, the SEC can issue approvals any time before the official deadlines.
Analysts Predict Market Impact
ETF analysts believe the approvals could mark a turning point for altcoins. Bitfinex analysts suggested in August that the launch of these ETFs could ignite a new “altcoin season,” as traditional investors gain regulated exposure with reduced risk.
Nate Geraci, president of NovaDius Wealth Management, emphasized on X that it will be an “enormous next few weeks for spot crypto ETFs,” citing deadlines for Solana, Dogecoin, XRP, ADA, and HBAR funds.
Notable Absences from Major Players
Despite the wave of applications, two industry giants, Fidelity and BlackRock, are notably absent from the October approval list. Crypto trader Daan Crypto Trades pointed out that while these firms dominate the crypto ETF space, none of their filings face deadlines this month.
SEC Shifts Toward a Friendlier Stance
Throughout 2025, the SEC has delayed numerous ETF decisions but is now showing signs of a more supportive approach. On September 17, the regulator approved a new listing standard for commodity-based trust shares, which could shorten the timeline for future spot crypto ETFs.
Bloomberg’s James Seyffart said this move could trigger a “wave of spot crypto ETP launches,” while ETF analyst Eric Balchunas noted that at least 22 coins with Coinbase futures are “eligible for spot ETF-ization.”
A Potential Altcoin Catalyst
Since the SEC’s policy update, asset manager Hashdex has already expanded its crypto ETF to include XRP, Solana, and Stellar (XLM). With October deadlines fast approaching, the market is watching closely for signals that could kick off the next big altcoin rally.
