- The SEC will rule on Cardano, XRP, and Solana ETFs by late October.
- New rules cut review time from 240 to 75 days.
- Polymarket traders give 90% odds for Cardano and 99% for XRP ETF approval.
Maddie of Altcoin Buzz says October 2025 could prove decisive for cryptocurrency exchange-traded funds. He expects Cardano, XRP, Solana, Stellar, and Chainlink’s price to rally as products of these altcoins await a final ruling.
Cardano Tops Altcoin Buzz’s List
The U.S. Securities and Exchange Commission (SEC) must decide on the Grayscale Cardano ETF application by October 26. The SEC has delayed the decision several times, but cannot extend it further under current rules.
Polymarket data shows traders assigning a 90% chance of approval this year. According to Maddie, an approval would likely open the door to institutional inflows and higher market participation for Cardano’s ADA token.
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Notably, Cardano is trading just above $0.80, a 0.7% rise in the past day, with a market capitalization of about $29 billion. The asset remains well below its record of $3.09, set in September 2021. Maddie noted that the lead-up to the ruling is expected to bring volatility as investors position for the outcome.
XRP Faces Six ETF Deadlines in October
Meanwhile, XRP has more at stake, with six ETF applications scheduled for decision. Maddie explained that the SEC will issue rulings on Grayscale’s XRP ETF on October 18, followed by 21Shares and Bitwise on October 20.
CoinShares and Canary Capital will receive their decisions on October 23, and WisdomTree’s filing is due October 24. A separate Franklin Templeton application is not scheduled for November 14.
Meanwhile, there is a possibility that the SEC makes a decision on all pending XRP ETFs on the earliest October deadline. The regulator has historically done so as seen in Bitcoin and Ethereum ETFs.
With several filings in play, traders on Polymarket assign a 99% probability that at least one XRP ETF will gain approval this year. Maddie said a favorable outcome would mark a milestone for XRP and could spark significant price action.
XRP trades at $2.90, a 1.7% increase in the past day as the broader market slightly recovers.
Solana ETF Filings Also Under Review
Between Oct. 10 and Oct. 16, the SEC will rule on five ETF applications tied to Solana from issuers including Grayscale, VanEck, and Bitwise. Approval would make Solana the third major Layer 1 network to achieve ETF access in the United States after Bitcoin and Ethereum.
Polymarket places the approval chance at 82% in 2025. Notably, Solana is trading at $210 with a $112 billion market cap.
Stellar’s ETF Filings Advance
Stellar is also in focus with two spot ETF applications under review. The first, the Hashtags Nasdaq Crypto Index U.S. ETF, received SEC approval on Sept. 24, 2025, under the new streamlined 75-day listing rules. The fund also includes XRP and Solana, providing exposure to multiple tokens through a regulated channel.
A second filing from Grayscale is seeking to list a spot Stellar ETF on the New York Stock Exchange Arca. Both filings are expected to see a decision in late 2025.
Stellar’s token, XLM, is currently trading at about $0.375 with a market capitalization of $11.6 billion. The asset is up modestly in the past month and has gained approximately 261% over the past year.
Chainlink Holds Steady Ahead of ETF Outlook
Chainlink has not yet seen an ETF filing, but its price performance continues to draw attention. LINK is currently trading at $21.56 with a market capitalization of $14.2 billion. Despite speculation that the token could command a significantly higher valuation, its price has remained steady near the $20 level in recent weeks.
Maddie noted that $20 has acted as a strong entry point for investors over the past month. Chainlink has also benefited from broader market recovery and growing adoption of its oracle technology, which secures data feeds across decentralized finance applications. While ETF activity remains centered on other altcoins, LINK’s consistent market presence has kept it in focus for long-term investors.
New SEC Rules Shorten ETF Review Periods
The SEC has recently adjusted its review process for ETFs. The maximum timeline between filing and launch has been reduced from 240 days to 75 days. Maddie pointed out that this change limits repeated delays and increases efficiency in the approval cycle.
Adding to the regulatory backdrop, Fox Business journalist Eleanor Terrett reported that the SEC has asked issuers of Litecoin, XRP, Solana, Cardano, and Dogecoin ETFs to withdraw their 19b-4 filings. This follows the adoption of new generic listing standards, which remove the need for those filings.
Bloomberg analyst Eric Balchunas noted that while the change makes sense under the new framework, the timeline for ETF launches remains unclear.
In a follow-up, Balchunas said the odds of approval are now “100%” under the new standards. He explained that the 19b-4 process is no longer relevant and that only S-1 filings remain under review by the SEC’s Division of Corporation Finance.
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Balchunas added that issuers have already submitted new amendments, including for Solana, suggesting that ETF launches could happen at any time.
If the SEC rejects any of the October applications, issuers may refile under the shorter timeline, which could push possible launches into early 2026.
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