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SEC Accelerates Approval: Solana and XRP ETFs Coming Soon!
Solana and XRP ETFs Receive Expedited SEC Approval; Market launch in October 2025. Current developments and requirements.
SEC Accelerates Approval: Solana and XRP ETFs Coming Soon!
The US Securities and Exchange Commission (SEC) has given new impetus to the crypto market with accelerated approval of ETFs for altcoins such as Solana and XRP. This reports Crypto News. The SEC has shortened approval timelines to just 75 days from the original 270 days, providing significant relief for companies looking to enter the rapidly evolving cryptocurrency ETF market.
Financial firms such as Canary Capital and VanEck are currently busy updating their applications for the first altcoin ETFs. Steven McClurg, the founder of Canary Capital Group, recently suggested that there are currently around a dozen ongoing applications. The latest versions of these applications could be filed this week, indicating accelerated development.
New SEC regulations
A few days before the publication of the new regulations, the SEC had already made its decision to shorten the deadlines. To be eligible for the expedited approval process, ETFs must meet certain criteria. This includes, among other things, that the underlying asset must have been traded on a regulated market for at least six months. Kyle DaCruz of VanEck noted that not all existing applications meet these requirements.
These new developments could have far-reaching consequences for the crypto market. Experts see this as a step that could increase the awareness and acceptance of altcoins among the broad investor base. With the quick approval, numerous other companies could take the step and submit their own applications.
The interest in altcoin ETFs seems to be driven not only by the companies mentioned, but also by many other market participants. The potential upcoming market entry of Solana and XRP offers the industry additional opportunities to further diversify and attract new investors.