Crypto ETF Filings Hit 126: Bitcoin, XRP, and Solana Lead US Race

Crypto etf pipeline reaches 126

The United States market now lists 126 pending crypto exchange-traded fund (ETF) applications, according to data confirmed by Bloomberg Intelligence analyst James Seyffart. An exchange-traded fund is a regulated investment vehicle that tracks an index, asset, or basket of assets and trades on stock exchanges like a share. The current figure exceeds the 92 pending crypto ETF filings reported in late August 2025, which were also tracked via Seyffart's public monitoring of SEC submissions. Asset managers increased their filing activity throughout the fourth quarter of 2025, expanding the pipeline to include a wider range of single-asset and multi-asset products.

Bitcoin xrp and solana dominate filings

Filings concentrate on a small group of large-cap cryptocurrencies with higher liquidity and established trading history. Bitcoin accounts for 21 of the 126 applications, keeping it ahead of all other assets in the pending queue. Basket ETFs follow with 15 applications referencing multiple cryptocurrencies in a single product, based on the specific breakdown shared by Seyffart. XRP, the payments-focused token associated with Ripple Labs, has 10 pending ETF applications, while Solana has 9 filings tied to products that track its smart contract blockchain.

Sec review process and deadlines

The U.S. Securities and Exchange Commission (SEC) reviews each crypto ETF proposal under existing securities laws governing exchange-traded products. The SEC applies fixed statutory decision windows, which allow for extensions before a final approval or denial is required. In 2025 the commission adopted generic listing standards for certain crypto asset exchange-traded products, shortening the timeline for qualifying funds to approximately 75 days once prerequisites are met. Deadlines for many altcoin and basket-focused ETFs cluster around October 2025 and into early 2026, concentrating regulatory decisions into a narrow calendar window.

There are 126 crypto ETF applications filed in the U.S. Bitcoin leads with 21 filings, followed by basket ETFs (15), XRP (10), SOL (9), and ETH (7). — James Seyffart, ETF Analyst, Bloomberg Intelligence

Market positioning and scenario outlook

Asset managers submit these filings to capture demand from investors who trade regulated securities instead of holding cryptocurrencies directly. Speculation: simultaneous approval of multiple ETFs tied to Bitcoin, XRP, Solana, and baskets would compress product launches into a short period and intensify competition on fees. Speculation: staggered approvals or rejections would extend uncertainty for issuers but still anchor product design around the same large-cap cryptocurrencies tracked in the current filings. The 126-application pipeline reflects current issuer interest, not guaranteed market supply, because final SEC outcomes remain pending for every application.