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SOL and LTC lead the way, with the fate ruling and market impact overview of 16 altcoin ETFs in October.

In October 2025, the cryptocurrency market will face an unprecedented regulatory test. The SEC is about to make final decisions on applications for at least 16 spot cryptocurrency exchange-traded funds (ETFs), involving a range of tokens unprecedentedly including SOL, XRP, LTC, DOGE, ADA, and HBAR, far exceeding the previous focus on Bitcoin and Ethereum. Given that the approval of BTC and ETH spot ETFs successfully drove capital inflows and increased coin prices, this time, will altcoin ETFs be collectively approved and ignite a new wave of altcoin frenzy?

Unlike the SEC's previous style of dragging its feet on cryptocurrency applications, this round of approval processes has clearly accelerated. The SEC has withdrawn multiple delay notices and shortened the review time to within 75 days. At the end of July this year, the SEC approved new general listing standards aimed at simplifying the ETF listing process, which are expected to take effect in October 2025. Crypto journalist Eleanor Terrett revealed that the SEC has asked the issuers of LTC, XRP, SOL, ADA, and DOGE ETFs to withdraw their 19b-4 filings, as these filings are no longer needed after the approval of the general listing standards. The new standards officially allow for the creation and redemption of physical assets, meaning authorized participants can exchange ETP shares for actual crypto assets instead of cash. The new standards require that crypto assets must be listed on major exchanges for futures for at least 6 months to ensure sufficient liquidity and market depth, avoiding market manipulation.

The ultimate ruling will take place throughout October, and the SEC must give a clear Yes or No decision regarding the market. The approval or disapproval of Litecoin and SOL, which will be ruled on first, will greatly influence subsequent market expectations. Litecoin founder Charlie Lee recently stated in an interview that he expects the spot LTC ETF to be launched soon. He emphasized that the listing standards for the recently approved generic crypto ETF by the SEC are key factors driving this, and LTC fully meets the conditions for rapid approval due to its maturity, non-security nature, and being one of the 10 assets that meet the standards. Currently, the market is betting, with the probability of the Litecoin spot ETF being approved this year skyrocketing to 93% on Polymarket.

Regarding the situation of the SOL spot ETF, ETF analyst Eric Balchunas is exceptionally optimistic, stating: "To be honest, the approval rate for the SOL spot ETF is now close to 100%. The general listing standards have made the 19 b-4 filings and their timelines meaningless; now, only the matters related to the S-1 form remain." As the last cryptocurrency awaiting a ruling at the end of October, ADA's probability of ETF approval has also risen to 93% on Polymarket.

Previously, analysts predicted that the approval of crypto ETFs would provide traditional investors with more exposure to crypto investments, potentially triggering a new season or rebound for altcoins. ETF analyst James Seyffart holds a different view on the traditional pattern of altcoin seasons. He pointed out that the current altcoin market is driven by digital asset financial companies rather than the price increases of traditional tokens. Institutional funds prefer to gain exposure to cryptocurrencies through regulated products rather than directly holding tokens. They are more inclined to choose multi-cryptocurrency portfolio products rather than single altcoin ETFs. This structural shift could permanently change the upward pattern of altcoins, meaning institutional funds may flow more into diversified or index-based ETFs rather than single-asset spot ETFs.

At the beginning of October, the SEC's decision on cryptocurrencies such as LTC and SOL will undoubtedly become a key barometer for the crypto market. Whether the final decision is Yes or No, it will conclude months of market anticipation for spot ETFs of altcoins. If it is approved with high probability as the market bets, the opening of traditional financial channels to altcoins will inevitably have a profound impact, but investors also need to pay attention to the new changes brought about by the structural preferences of institutional funds.