So far, the SEC has not approved any ETFs for altcoins other than Bitcoin and Ethereum. However, important developments have taken place recently.
Overview of ETFs
ETFs (Exchange Traded Funds) are a popular instrument in financial markets. Currently, the applications for ETFs for altcoins like XRP and Solana are under SEC review. Despite expectations that such ETFs will be approved, no altcoin ETF has yet received regulatory approval.
DTCC ETF Listings
Accordingly, the Depository Trust & Clearing Corporation (DTCC) reported that it has listed the Fidelity Solana (SOL) ETF, Canary Hedera (HBAR) ETF, and Canary XRP (XRP) ETF on its website. This listing has created excitement in the cryptocurrency community as it signals that these ETFs may soon be approved by the SEC. Nate Geraci, Head of Asset Management at NovaDius, said: “DTCC listing the Fidelity SOL ETF and Canary XRP & HBAR ETFs means *nothing* from a regulatory perspective. It all depends on the SEC.”
Odds of Altcoin Approval
According to Bloomberg, the XRP and Solana ETFs have a 95% probability of approval, while the HBAR ETF has a 90% probability. While the SEC's deadline to approve or reject XRP and Solana is approaching, the SEC has so far postponed all altcoin-related ETF applications.
In the current situation regarding altcoin ETFs, it is anticipated that the SEC will make decisions on the XRP and Solana applications in the coming months, although the final decision rests with the regulator.
