Crypto News Today: Bitcoin Tops $70K, Ethereum & Altcoins Skyrocket

U.S. watchdog opens the door to a wave of crypto ETFs: altcoins now in the spotlight Washington, D.C. — The U.S. Securities and Exchange Commission (SEC) is hurtling toward a watershed moment for digital-asset markets as analysts peg the odds of approving multiple spot cryptocurrency exchange-traded funds (ETFs) at “90 percent or higher,” according to a new Bloomberg Intelligence note. The change in sentiment comes only six months after spot Bitcoin ETFs shattered first-week inflow records. This time, the filing queue is led by Ripple’s XRP, Solana (SOL) and Dogecoin (DOGE), with at least 31 active applications waiting in the SEC’s pipeline, Cointelegraph Research data show. Why the sudden optimism? Analysts point to: • The SEC’s loss in several recent court battles that limited the agency’s latitude to deny crypto products. • Congressional pressure following the passage of the bipartisan Financial Innovation and Technology for the 21st Century Act in May. • Robust surveillance-sharing agreements between exchanges and custodians that mirror the framework green-lit for Bitcoin. Trump-linked ETF adds political heat Fueling headlines this week, Trump Media & Technology Group filed to list the “Truth Social Bitcoin and Ethereum ETF” on NYSE Arca, pledging a 75/25 BTC-ETH allocation and spotlighting crypto as an election-year talking point. Market watchers say the filing raises pressure on regulators to avoid appearing partisan. Altcoin summer 2.0? If even a handful of spot altcoin ETFs clear the SEC, strategists at Galaxy Digital estimate up to $25 billion in fresh inflows during the first 12 months, potentially igniting an “altcoin summer” reminiscent of 2021. Volumes on U.S. venues already reflect rising anticipation: XRP futures open interest hit a record $1.8 billion on Friday, while SOL funding rates flipped positive for the first time in seven weeks, according to CoinGlass data. Investor playbook • Short-term: Expect heightened volatility around the SEC’s July decision window. Options markets are pricing implied moves of ±18 percent for XRP and SOL. • Medium-term: Passive-index demand could widen the liquidity gap between ETF-eligible majors and smaller tokens. • Long-term: A multi-asset ETF regime may accelerate institutional adoption by simplifying custody, accounting and compliance hurdles. What’s next The SEC must issue initial rulings or delay notices on the leading XRP and SOL filings by July 29. Historically, the agency maxes out its three-delay allowance before a final verdict, setting up a definitive deadline in mid-November. Meantime, issuers are racing to amend S-1 registration statements to include staking disclosures—language the SEC requested during Ethereum ETF negotiations in May. Bottom line From Washington to Wall Street, momentum is building for the most diverse lineup of crypto ETFs to date. Should regulators follow through, 2025 could mark the year digital assets move from a two-coin market to a fully fledged multi-asset asset class—reshaping portfolio construction and expanding the crypto narrative well beyond Bitcoin and Ethereum.