SEC, Making Consecutive Moves for XRP, Officially Starts Approval Process for Solana (SOL) ETFs!

With the new US and SEC administration, the expectation of ETF approval for altcoins such as XRP, Solana (SOL) and Litecoin (LTC) increases, while the SEC continues to make critical moves.

At this point, the SEC has accepted three separate 19b-4 filings for spot XRP ETFs from Cboe, BZX, and Nasdaq. These exchanges intend to list spot XRP ETF shares from WisdomTree, Canary Capital, and CoinShares.

The publication of these applications in the federal register marks the start of the 240-day period for the SEC to approve or reject the XRP ETF applications from Cboe and Nasdaq on behalf of Canary Capital, WisdomTree, and CoinShares.

Exciting Development for Solana (SOL)!

While the SEC is making critical moves for XRP, it is also making decisions about Solana. Fox Business journalist Eleanor Terrett explained the exciting development for SOL from the X account.

Terrett noted that the SEC has formally filed Solana ETF applications in the Federal Register from potential issuers including Grayscale Investments, Canary Capital, VanEck, 21Shares and Bitwise.

At this point, Terrett said the SEC officially recorded the Solana ETF filing in the Federal Register on February 18.

“Grayscale, VanEck, Canary Funds, Bitwise, and 21Shares filed ETF applications for Solana in the Federal Register on February 18. The SEC has a 240-day deadline to approve or reject the SOL ETFs, which expires on October 16.”

While the Solana ETF is expected to be approved, some analysts are speculating that the SEC’s classification of Solana as a security in lawsuits filed against Binance and Coinbase could be an obstacle to ETF approval.

https://twitter.com/EleanorTerrett/status/1892303167255199918?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

*This is not investment advice.

Continue Reading: SEC, Making Consecutive Moves for XRP, Officially Starts Approval Process for Solana (SOL) ETFs!