The crypto assets market is experiencing a new wave of enthusiasm, with several financial institutions applying for ETFs (exchange-traded funds) for various crypto tokens. This trend is not limited to Bitcoin and Ethereum, but also extends to other highly followed digital assets.

The ETF application for Solana (SOL) has attracted several institutions including VanEck, Bitwise, and 21Shares. Meanwhile, XRP is also not to be outdone, with Grayscale, 21Shares, and WisdomTree all having submitted applications, and ProShares plans to launch an XRP futures ETF in July.

It is worth noting that some relatively new projects have also joined this ETF race. Ondo Finance's RWA Token ONDO has been submitted with an S-1 form by 21Shares. Avalanche (AVAX) and BNB have also had relevant applications submitted by VanEck, with the BNB ETF considering incorporating staking rewards into its structure.

Established crypto assets such as Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC) are also not to be outdone. Several institutions have submitted ETF applications for these tokens, and some applications have been officially accepted by the U.S. Securities and Exchange Commission (SEC).

Emerging projects such as Polkadot (DOT), Sui (SUI), and Injective (INJ) are also seeking to be ETF-compliant. It is worth mentioning that Grayscale's Chainlink Trust, although it has not yet been converted into an ETF structure, is already prepared for future conversion.

In addition, some possibly unexpected projects also appeared on the ETF application list, such as Crypto.com Chain's CRO, Hedera's HBAR, and the PENGU Token related to the Solana ecosystem.

This wave of ETF applications reflects the vigorous development of the crypto assets market and the strong interest from institutional investors. However, whether they can obtain approval from regulatory agencies remains an open question. In any case, this trend will undoubtedly pave the way for the mainstream adoption of crypto assets and provide investors with more diversified investment options.