Jason Yanowitz, co-founder of Blockworks Group, recently shared insights from a meeting with a major bank regarding the hierarchy of crypto assets, including XRP and Bitcoin.
Yanowitz revealed that he had met with a top-five bank, where discussions centered around cryptocurrencies. According to him, the bank categorized the crypto market into “the top four and everything else.”
In the bank’s view, the top four crypto assets include Bitcoin, Ethereum, XRP, and Solana, while the other tokens are grouped as “everything else.”
This suggests that the bank views these four as the leading crypto assets by market cap. Indeed, Bitcoin and Ethereum remain the largest cryptocurrencies by market capitalization.
Excluding stablecoins, XRP and Solana currently rank third and fifth, respectively. Despite Solana’s fifth place, the bank still included it in its top four, highlighting its perceived importance.
Next Crypto ETFs Approval
Notably, since Bitcoin and Ethereum spot ETFs launched, several asset managers have been eager to introduce similar products for other cryptocurrencies, including Solana and XRP.
Based on the bank’s classification, Yanowitz speculated that the SEC may soon approve spot ETFs for Solana and XRP. He predicted Solana ETFs could be approved within the next few months, followed by XRP ETFs.
Notably, some industry commentators had suggested that Litecoin might be the next in line for a spot ETF. Bloomberg analysts Eric Balchunas and James Seyffart previously estimated a 90% chance of approval for a Litecoin ETF this year.
They initially assigned approval odds of 70% and 65% to Solana and XRP ETFs, respectively, due to the SEC’s previous classification of these tokens as securities.
However, after the SEC dropped enforcement actions labeling Solana and XRP as securities, their approval odds climbed to 90% and 85%, respectively.
With a major bank now recognizing Solana and XRP among the top four crypto assets, Yanowitz believes the SEC will likely approve a spot ETF for SOL in the coming months, followed by one for XRP.
Met with a top 5 bank the other day.
They refer to tokens as "the top 4 and then everything else"
BTC, ETH, SOL, and XRP
Looks likely we'll get the Solana ETF in the next few months.
My guess is the next ETF after SOL will be XRP.
Don't shoot the messenger.
— Yano 🟪 (@JasonYanowitz) June 10, 2025
Potential Approval Timeline
Data from Bloomberg Intelligence indicates that the SEC must decide the fate of the Solana and XRP ETFs by October 2025.
While the final decision deadline for the Solana ETFs is October 10, 2025, XRP’s deadline is scheduled for October 17, 2025. Meanwhile, the decision deadline for Litecoin ETFs is earlier, specifically on October 2, 2025.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.