Crypto ETFs: SEC Advances XRP Litecoin Solana

SEC Advances Crypto ETF Applications for Solana and XRP

• The SEC acknowledged a filing by Grayscale for a Solana (SOL) ETF.
• The SEC has until October to approve or deny the Solana ETF application.
• Cboe filed to list and trade shares of four separate ETFs tracking XRP.
• All four issuers of the XRP ETFs had previously filed S-1s, a preliminary step for launching an ETF.
• This marks the first acknowledgment of an ETF filing for a cryptocurrency previously deemed a “security.”

The SEC’s recent actions indicate a potential shift toward approving crypto ETFs beyond Bitcoin and Ether, with new filings for Solana and XRP ETFs being acknowledged. Eric Balchunas noted this as significant due to past refusals on similar applications.