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Celebrating the massive success of the 11 spot bitcoin ETFs as their first year of trading comes to a close—$36.4 billion of inflows, $110 billion in assets under management—is the easy part.

Continuing the rookie year achievements will be harder, requiring the usual mix of luck and hard work. Still, a brew of tailwinds and headwinds confront issuers, most notably the overachievement of the spot bitcoin ETFs themselves, which some say may make matching the first year impossible.

Still, many analysts are confident that the first year’s blockbuster accomplishments, which also include the June approval of spot Ethereum exchange-traded funds, have set the future up well for spot crypto funds.

Seeing the crypto ETF door opened, issuers have applied for Solana , XRP, Litecoin and other spot crypto funds. They are encouraged that the Securities and Exchange Commission, which denies or approves their applications, is poised for a new crypto-friendly leadership under the incoming Trump administration. etf.com Senior Analyst Sumit Roy expects Solana will be the next cryptocurrency that wins spot ETF approval.

Trump Administration's Pro-Crypto Stance

The pairing of the Trump victory and spot bitcoin ETF approvals gives crypto funds fresh momentum, financial advisor and author Ric Edelman said. He also believes Vanguard Group, having seen the success of larger rival BlackRock's Inc.'s $56.5 billion iShares Bitcoin Trust (IBIT) will eventually issue a crypto ETF.

“The trend toward investment in the sector is going to grow exponentially,” said Edelman, founder of the Digital Asset Council of Financial Professionals and a member of the etf.com advisory board. He noted that the more than $100 billion that’s flowed into spot bitcoin ETFs may double, saying, “It’s a routine asset for long-term diversified portfolios.”

Not only are new coins being looked at for spot ETFs, issuers are also seeking a range of new ways to repackage crypto funds. For example, Franklin Templeton is aiming to put out a crypto index fund, other funds that mix bitcoin and Ethereum are in the approval process and the first leveraged bitcoin fund, which launched in 2024, will likely be followed by more.

At the same time, investors don’t appear to be showing the same enthusiasm for Solana, XRP and others as they had for bitcoin funds, said Bryan Armour, editor of Morningstar's ETFInvestigator newsletter, suggesting 2024 may be the high watermark for the foreseeable future.

“Most bitcoin investors haven’t moved on to the next cryptocurrency waiting for an ETF,” he wrote in an email. “I don’t see XRP, Solana, or others reaching bitcoin’s status or fervor in the foreseeable future.”