- Fidelity has filed for a Solana ETF, signaling rising institutional demand beyond Ethereum and Bitcoin.
- Ripple is developing real-world asset products while Cardano may diversify by acquiring Bitcoin.
- PayPal’s stablecoin now operates on Stellar, boosting its utility and potential ETF viability.
Another institutional storm is hitting the altcoin space with four key tokens evolving XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM) now forming the core of ETF discussions. By November 2, the U.S. Securities and Exchange Commission (SEC) is set to give a decision on the possible approval of these altcoin ETFs.
With the growing participation of asset managers, blockchain foundations, and payment networks in these networks, ETF storylines have acquired a new sense of urgency. This contrasts in tone as the larger crypto market awaits a new period of growth, which may be driven by assets that have real world integrations and have increasing regulatory visibility.
Solana (SOL): Fidelity Files for ETF, Momentum Builds
Fidelity’s push to launch a Solana ETF marks a groundbreaking development, making SOL the first non-Ethereum altcoin with such backing from a top-tier financial institution. The move highlights Solana’s increasing visibility in blockchain infrastructure, where high performance and increasing developer activity have established it as a dynamic layer-1 network. The ETF listing is a sign of optimism regarding the shape of the market and the operational maturity of Solana.
The move has the potential to establish a new benchmark in institutional participation outside Bitcoins and Ethereum, especially with the hypothetical SEC approval. The ruling will make a huge precedent on how alt-L1s will be treated under securities law in the U.S.
Ripple (XRP): Real-World Asset Focus Enhances Institutional Profile
Ripple’s expanding focus on real-world assets (RWAs) adds a critical layer to the XRP ETF narrative. The company has reportedly begun building tools and partnerships aimed at tokenizing RWAs, a sector gaining traction among traditional financial firms. Despite its ongoing legal friction with the SEC, XRP remains widely traded and institutionally visible.
It is possible that the high liquidity, good infrastructure, and the fact that Ripple has shifted its focus to practical financial applications may bolster the argument that XRP should be listed on future ETF products. Ripple has a distinct legal status and precedential significance, which increases the weight of the decision that the SEC is going to provide.
Cardano (ADA): Treasury Bitcoin Allocation Sparks Strategic Shift
Cardano is reportedly exploring the possibility of acquiring Bitcoin through its community-governed treasury. If executed, this would mark an unprecedented move among layer-1 blockchains, introducing cross-chain asset exposure to its reserve structure. ADA’s potential inclusion in an ETF is supported by its consistent development activity and decentralized governance model.
The ETF conversation also highlights growing recognition of Cardano’s role in academic-based blockchain design. However, the Bitcoin strategy adds a fresh narrative layer, demonstrating a willingness to blend long-term security strategies with native token utility.
Stellar (XLM): PayPal Integration Signals Institutional Readiness
Stellar has gained renewed traction following PayPal’s decision to launch its stablecoin, PYUSD, on the Stellar blockchain. This integration provides Stellar with one of its most high-profile use cases to date. The development strengthens XLM’s position as a viable candidate for ETF exposure, especially given its established focus on payments and remittances.
The network’s low-cost infrastructure, combined with this mainstream partnership, may appeal to regulators evaluating asset viability. As the only asset in this group directly tied to a live U.S.-based stablecoin deployment, XLM may now be viewed through a new institutional lens ahead of the SEC’s November ruling.
