I've said before and I'll say again that many people in the category now known as "Hispanics" will be considered "white ethnics" by 2040 or so, as "white" as Greeks or Lebanese or Turks are considered in the US are now. This obviously isn't a universal thing, heavily Native people like Guatemalans and the obviously black Latinos are a different matter, but the day will come when a person whose ancestors have lived in the USA since 1970 who has a name like "Hector Lopez" won't be considered "non-white" in any serious way.
EDIT: Also, the above reflects my view on the prediction of a "minority-majority" USA. The definition of whiteness will expand to include many now considered non-white and the white majority will be "preserved."
look at this white man
I've said it before and I'll say it again: many Latino ethnic groups will never assimilate in a manner that integrates them with white identities. Latinos have no desire to be considered white. To a large extent, Latino identity in the US is centered around combating white supremacy. Outside of a common language and a common faith, Mexicans and Puerto Ricans can bond over stories of discrimination. Because the Latino identity was constructed for largely political and economic reasons by Latino elites, I doubt that it's a very durable identity but it has also served as an inoculation against whiteness.
In order for your scenario to play out, immigration from Latin America would have to slow to a trickle. In that situation, I could see high interracial marriage rates dramatically altering the Latino identity + lack of cultural raw materials, which define ethnic communities, flowing into the country but I think there's a stronger case to be made for the notion of many Asians assimilating into whiteness as being mixed-race Asian becomes more common.