In the context of the market's anticipation for the approval of spot ETFs, the trading volume of futures exchange-traded funds (ETFs) linked to Solana (SOL) and Ripple (XRP) has accumulated nearly $3 billion. This momentum is driven by the introduction of new leveraged products, a surge in derivative positions, and a demand for yield-oriented structures. This not only indicates the growing prominence of Solana and XRP in the regulated investment market but may also serve as the "engine" that ignites a new round of altcoin bull markets. On the eve of the SEC's critical decision, the altcoin market is gathering unprecedented energy.
- Solana and XRP ETFs: $3 Billion Growth Momentum Reveals Market Heat
The Rise of Futures ETFs: In early 2025, news leaked that the Chicago Mercantile Exchange Group (CME Group) was preparing to list futures contracts for Solana and XRP, causing prices to immediately rise by about 3%. This development laid the groundwork for the listing of institutional products based on regulated derivative markets (such as CME).
Leveraged Products Boost: In July of this year, ProShares launched leveraged futures ETFs for Solana and XRP after receiving approval from the New York Stock Exchange Arca. The target price for both the Ultra Solana ETF (SLON) and Ultra XRP ETF (UXRP) is double that of their respective futures regulated by the Chicago Mercantile Exchange (CME), and they do not hold the underlying tokens.
Yield-Oriented Structure: Meanwhile, the REX-Osprey Solana Staking ETF (SSK) was launched in early July. The product achieved a trading volume of $33 million on its first day, with inflows reaching $12 million, far exceeding the initial trading volumes of several futures products. This ETF primarily focuses on spot trading and integrates staking rewards, providing yield exposure that has attracted the interest of investors seeking revenue-generating strategies in the digital asset space.
Capital Inflows: ETF data shows that in the first week of July, the Solana-linked ETF saw inflows of $20 million, while the XRP ETF saw inflows of $10 million, bringing the total assets under management for cryptocurrency ETFs to a record $189 billion.
- XRP's Regulatory Landscape Shift: PayPal Support and Bank License Application
As XRP gains support from mainstream payment platform PayPal, its shift in the regulatory landscape is also drawing attention.
PayPal Supports XRP Payments: On July 28, the mainstream U.S. payment platform PayPal (PYPL) announced that it would allow account holders to use cryptocurrencies, including XRP, for international payments, saving up to 90% in fees. The Pay with Crypto service will be launched for U.S. merchants in the coming weeks, supporting payments in over 100 cryptocurrencies and connecting to mainstream wallets.
Ripple Applies for Bank License: Ripple Labs recently applied for a license from the U.S. National Trust Bank (RNTB), but faced strong opposition from the Independent Community Bankers of America (ICBA), warning that Ripple might attempt to circumvent key banking regulations and potentially withdraw deposits from the banking system.
SEC Extends a Helping Hand to Ripple: Notably, since the departure of former SEC Chairman Gary Gensler, the SEC's stance on Ripple's violation of U.S. securities laws has undergone a significant shift. The SEC recently issued an order that rescinded the disqualification of "bad actor" status resulting from a permanent injunction. Legal experts believe this exemption is the best option following Judge Torres' lifting of the permanent injunction. Cryptocurrency-supporting lawyer Bill Morgan believes this could also help Ripple achieve broader business goals, including applying for a national bank license.
Paxos Joins the Fray: On August 12, Paxos Trust Company joined Ripple and Circle in applying to establish a U.S. national trust bank, targeting traditional banks as clients. Paxos is the driving force behind PayPal (PYPL) PYUSD stablecoin.
- On the Eve of the SEC's Key Decision: The "Engine" of the Altcoin Bull Market?
Historically, establishing a liquid futures market has been seen as a necessary step before the approval of spot ETFs, providing regulators with a good record of pricing transparency and risk management.
Integration of Futures Activity and ETF Inflows: The increase in futures activity, substantial ETF inflows, and the integration of innovative yield-focused structures have positioned Solana and XRP more prominently in the regulated investment market.
$3 Billion Asset Threshold: Currently, the $3 billion asset threshold for futures ETFs reflects the scale of capital allocation in response to potential changes in the regulatory environment.
Potential Price Catalysts: On July 30 (Wednesday), the U.S. President's Working Group on Financial Markets is set to release a highly anticipated report that may recommend cryptocurrencies like XRP as strategic reserve assets for the U.S. On July 31 (Thursday), the SEC may vote to withdraw its appeal against the ruling on XRP's programmatic sales in the Ripple case. Withdrawing the appeal would conclude the case and pave the way for the XRP spot ETF market, which would be another potential price catalyst.
Conclusion:
On the eve of the SEC's critical decision, the Solana and XRP futures ETFs have accumulated $3 billion in growth momentum, revealing not only the market's immense enthusiasm for these two altcoins but also indicating that the "engine" of the altcoin bull market has been started. PayPal's support for XRP payments and Ripple's progress in applying for a bank license are pushing XRP into the mainstream. With the shift in the regulatory landscape and the continued influx of institutional capital, Solana and XRP are expected to play a more significant role in the future cryptocurrency market and may lead a new round of altcoin explosions.
Related: Is it "overvalued" to buy Ripple (XRP) now?
Original: “Solana and XRP Futures ETFs Soar, Pulling in $3 Billion—Is the Altcoin Season Engine Starting Up?”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
