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On July 2, the U.S. Securities and Exchange Commission (SEC) approved Grayscale’s plan to turn its Digital Large Cap Fund (GDLC) into a spot ETF. This ETF holds Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Although it’s not a standalone ETF for XRP or SOL, this approval allows U.S. investors to gain exposure to these tokens through a regulated fund. This marks the first time the SEC approved a spot ETF that includes several altcoins. Until now, the agency had only allowed Bitcoin and Ethereum ETFs. With this move, the SEC indirectly opened the door for more altcoin ETFs. That could bring new money into the market—especially from institutional investors who prefer regulated products. As a result, analysts now expect more ETF applications for coins like XRP, SOL, and ADA to move forward. Some platforms have already filed for individual ETFs for these tokens, and this new approval may support those chances. Related: Grayscale ETF Approved, But Altcoins Stall: What’s Holding Them Back? Also on July 2, Binance Alpha added Echo Protocol (ECHO) to its platform. Echo is a cross-chain protocol that connects Bitcoin to DeFi. It allows users to move Bitcoin across other blockchain networks, opening up new use cases. To support the launch, Binance Alpha started a one-day airdrop. Users could claim 625 ECHO tokens by redeeming 15 Alpha Points. This created a short wave of interest, especially from traders looking to benefit from the free token drop. The airdrop ended after 24 hours, but trading continues on Binance Alpha. Echo’s launch shows how new projects can gain attention fast through platform listings and giveaways. Meanwhile, Ethena (ENA) unlocked around $11 million worth of tokens. This means those tokens are now free to trade or sell. Unlock events often affect price because they increase the number of coins in circulation. If there isn’t enough demand to match the new supply, the token price can drop. That’s why traders usually watch these unlocks closely. On July 3, the U.S. government will release several labor market reports that may influence investor sentiment in the crypto market. These include the nonfarm payrolls, unemployment rate, and weekly jobless claims—all set to arrive before U.S. markets open. The Employment Situation Report from the Bureau of Labor Statistics (BLS) is expected to show around 120,000 new jobs added in June, down from 139,000 in May. At the same time, the unemployment rate may rise to 4.3%, up from 4.0% last month. Investors will also review average hourly earnings and hours worked to assess inflation pressure. Alongside these figures, the U.S. Department of Labor will publish weekly jobless claims covering the week ending June 28. A rise in claims may signal labor market softness. On July 2, ADP’s private payrolls data showed a decline of 33,000 jobs, pointing to a possible cooling trend in hiring. Earlier this week, JOLTS job openings for May showed a surprise increase to 7.77 million, indicating that demand for workers remains strong despite rate pressures. In markets like crypto, weak labor data often leads investors to expect easier monetary policy from the Federal Reserve. That shift can trigger a rise in Bitcoin and altcoins as traders move into risk assets. However, stronger job growth or lower unemployment could raise expectations for tighter policy, which typically weighs on crypto prices. On July 4 at 03:00 UTC, Binance wil l remove ALPHA (Stella), BSW (Biswap), KMD (Komodo), LEVER (LeverFi), and LTO Network (LTO) from its spot trading platform. The delisting follows Binance’s periodic review focused on development activity, network security, liquidity, compliance, and community engagement. Following spot trading cessation, all open orders will be cancelled, and trading bots terminated. Deposits will be disabled on July 5, and withdrawals will remain available until September 3, after which tokens may be converted to stablecoins at Binance’s discretion. Delisting often triggers sell-offs, especially for assets with limited exchange listings. Holders are strongly advised to withdraw or relocate funds before the deadlines to avoid potential losses or forced conversions. Cardano (ADA) may face a key regulatory moment this month. The U.S. Securities and Exchange Commission (SEC) is currently reviewing a proposal for a standalone spot ETF tied to ADA. While no exact date has been confirmed, the decision deadline falls in mid-July based on standard review timelines. Earlier this week, the SEC approved Grayscale’s Digital Large Cap Fund (GDLC) to convert into a multi-asset spot ETF. That fund includes Bitcoin, Ethereum, XRP, Solana, and Cardano. Although this isn’t a direct ADA ETF, it allows regulated access to ADA through the GDLC vehicle. Analysts see this approval as a possible signal that standalone altcoin ETFs, including Cardano, may also move forward. Earlier in 2025, prediction markets gave high odds for ADA ETF approval. However, sentiment has cooled in recent weeks, with fewer signals from regulators. Still, the broader acceptance of altcoins within approved ETFs gives some support to ADA’s chances. If the SEC does not approve the Cardano ETF by the July deadline, it may choose to extend the review process. That could delay a final decision until October 2025. Several major altcoin ETF decisions are set for the end of the month. VanEck must reach a decision point on its spot Avalanche (AVAX) ETF application by July 25, while Franklin Templeton faces deadlines around July 31 for its Solana (SOL) and XRP proposals. These timelines follow the precedent set by the Grayscale GDLC approval and could reinforce the trend toward broader altcoin ETF adoption if these applications succeed. The momentum from earlier approvals could put regulatory and market attention on AVAX, SOL, and XRP. Approvals would mark a continued shift in how institutional investors access altcoins, potentially expanding crypto investment options. Conversely, delays or rejections could signal a pause in altcoin ETF progress. Expect market reactions and investor commentary as each deadline approaches. Let me know if you’d like a breakdown of each fund’s structure or filing history. Besides ETFs, other key events include U.S. inflation data on July 15 and producer price index data on July 16. These reports may also move crypto markets if they change expectations about interest rates. Token unlocks will continue throughout July. On July 11, Immutable (IMX) and io.net (IO) will unlock $11 million and $10 million worth of tokens, respectively. Aptos (APT) will unlock $56 million on July 12. On July 16, Arbitrum (ARB) will unlock $35 million. One of the largest unlocks will happen on July 18, when the Trump coin ($TRUMP) releases $465 million in tokens, or 25% of its total supply. On July 20, ZRO will unlock $51 million, or over 23% of its circulating supply. These large unlocks may add pressure to the altcoin market if buyers don’t absorb the new supply. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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