SEC Approval Ignites XRP, SOL, and DOGE ETF Launch This December - Racing Toward $10B Milestone

Wall Street's crypto embrace hits hyperdrive as regulators give three altcoin ETFs the green light.

The Approval Heard Round the Crypto World

December's launching not just holiday cheer—it's unleashing institutional-grade XRP, Solana, and Dogecoin funds onto hungry markets. The SEC's nod sends shockwaves through trading desks from New York to Singapore.

$10B Target: Ambitious or Inevitable?

Fund issuers sprint toward year-end deadlines, betting investor appetite will smash all projections. They're building infrastructure at breakneck speed—custody solutions, market makers, liquidity protocols all falling into place.

Traditional finance veterans scoffed at 'meme coin' ETFs until they saw the order flow. Now everyone's scrambling for a piece of the action—even the suits who once called crypto a passing fad.

This changes everything for altcoin adoption. No more complex custody setups or questionable exchanges. Just clean, regulated exposure to three of crypto's most volatile—and potentially rewarding—assets.

Let's see if Wall Street's latest gold rush actually benefits investors—or just creates new fees to collect.

What’s next for spot-ETF approval in the US?

For investors, the first order question is which tickers appear first and how capital accumulates compared with the initial adoption curves seen in bitcoin and ether wrappers.

The second-order question is which issuer captures scale. The answers can be framed with a probability weighted launch view and a base, bear, and bull flows model that uses JPMorgan’s published range for XRP as the anchor.

JPMorgan expects an XRP spot ETF to generate $3 to $8 billion in revenue in the first year, a range wide enough to model fee competition, marketing reach, and macro sensitivity without embedding a directional market call.

The calendar begins with the assets that have already cleared the futures tenure test and sequences those that pass it during the 75-day window.

Solana sits in the first cohort because its regulated futures contracts began trading in March, therefore, the six-month tenure was achieved this week. XRP follows as its regulated futures reach six months around November 19, keeping it inside the post-vote window, while dogecoin enters the frame via listed U.S. derivatives that have been live for over a year.

The mix of pricing references and surveillance arrangements should be straightforward for these pairs, since benchmark providers cover them and U.S. exchanges already surveil trading across multiple venues.

Flows modeling can then LAYER volumes, wrapper convenience, and fee effects on top of that sequencing.

Bitcoin spot ETFs reached triple-digit billions in assets under management within months, while ethereum ETFs built a smaller base with more variable net flows. Those analogs argue for bursty adoption outside Bitcoin, where wrapper convenience can pull forward demand on day one and then normalize as market beta and fee differentials take over.

Anchoring on the XRP range and adjusting solana and Dogecoin for U.S. venue depth, institutional participation via futures, and reference rate maturity produces a working set of bands for the first six to twelve months after the first trade.

The contest to reach the first $10 billion turns on fees, seed size, and pipes

Bitcoin’s experience showed that a low fee paired with broad platform access drives a large share of flows, so the issuers that pair sub-50 basis point pricing with early wirehouse availability and visible seed capital will have an advantage.

If XRP and Solana both clear the calendar milestones above, XRP will have a head start on distribution breadth and brand awareness in the U.S. market, while Solana will benefit from a deeper institutional derivatives footprint and a large active user base.

Dogecoin’s path depends more on wrapper convenience and promotional pricing since the marginal buyer is more fee-sensitive and less benchmark-constrained.

In the race to $10 billion, XRP and Doge will also benefit from flows into Rex-Osprey’s hybrid spot ETF launch this week. XRPR is a spot-based XRP ETF, but not purely spot. It holds a large chunk of actual XRP directly but also uses other exposure mechanisms, making it a “hybrid spot” or “spot-plus” ETF rather than an entirely direct-hold fund.

Macro and market structure variables will shape the bands. Monetary policy has shifted toward easing, liquidity conditions have improved, and exchange equities rallied on the rule change, which sets a supportive backdrop for risk allocation into new wrappers.

That said, Ethereum’s recent sequence of net outflows shows how quickly flows can retrace when market beta turns or when fee differentials are small relative to tracking and spread costs.

Therefore, new alt wrappers will show lumpier daily prints through month three, stabilizing as secondary market spreads compress and model portfolios evaluate the cost of spot exposure via ETFs versus existing on-exchange inventory.

Issuer behavior adds another layer

The fastest path to asset growth involves multiple SKUs under the same ticker umbrella, including share classes with temporary fee waivers and currency-hedged sleeves. The generic listing path makes baskets feasible alongside single asset funds, which draws in allocation models that prefer diversified exposure.

As S-1s post, fee tables and authorized participant rosters will reveal where early scale concentrates, and those disclosures will determine whether one issuer captures an outsized share, as seen in Bitcoin, or whether flows fragment more evenly across brands.

The rule vote created a narrow window, the mechanics are now defined, and the first wave of spot products can be staged against a 75-day calendar.

The rule change is effective for the main U.S. listing venues, which means first prints can emerge as soon as operational work is complete.

The market conversation is already dense, which keeps attention on the first set of filings, fee cards, and seed disclosures that will convert the calendar and the bands above into live trading data.