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Final Spot XRP And Solana ETF Amendments Expected This Week: Expert

The US crypto ETF market is bracing for a decisive stretch after the SEC’s approval of “generic itemizing requirements” final week opened a streamlined path for spot XRP and Solana ETFs—alongside merchandise past bitcoin and ether. With exchanges now capable of listing qualifying commodity-based ETPs with out a bespoke 19b-4 approval, candidates for spot XRP and Solana funds are dashing to lodge closing amendments—filings that a number of trade contributors say are already considerably baked.

Countdown To Launch For Spot XRP And Solana ETFs

On September 24, ETF Store president Nate Geraci signaled the inflection level in a collection of posts on X. “Final wave of amendments might be filed by finish of this week on numerous spot crypto ETFs incl xrp & sol,” he wrote, including that “these filings are fairly far alongside within the overview course of” and that the “countdown to launch is on,” citing a Reuters report on the SEC’s new framework.

In a separate submit, Geraci flagged the Hashdex Nasdaq Crypto Index US ETF: “Here we go…Hashdex Nasdaq Crypto Index US ETF *permitted* underneath SEC’s new generic itemizing requirements. Will now be capable to personal crypto property past btc & eth. Looks like xrp, sol, & xlm.”

Reuters, which first detailed the regulator’s accelerated pathway on Sept. 18 and adopted up on Sept. 24, reported that, because the SEC initially floated the foundations in July, issuers have “scrambled to replace their new product filings and reply to particular feedback and questions from the SEC.” A “closing wave of amendments might be filed by the tip of this week,” three folks aware of the matter instructed the wire service. “Those filings are fairly far alongside within the overview course of,” Bitwise president Teddy Fusaro mentioned. “These are the foundations we had been anticipating.”

The rule change is foundational. By blessing generic listing standards at NYSE Arca, Nasdaq and Cboe BZX, the Commission shifted spot-crypto ETF approvals from an adjudicative, proposal-by-proposal slog to a rules-based regime. In the SEC’s personal phrases, exchanges could now listing Commodity-Based Trust Shares that meet the standards “with out first submitting a proposed rule change” to the Commission—compressing timelines to roughly 75 days in simple instances and eradicating duplicative opinions that traditionally bottlenecked non-BTC/ETH merchandise.

For XRP specifically, a compressed and crowded calendar now looms. The SEC’s closing deadlines line up throughout seven days in October: Grayscale on Oct. 18, 21Shares on Oct. 19, Bitwise on Oct. 20, CoinShares and Canary Capital on Oct. 23–24, and WisdomTree on Oct. 24–25.

Solana sits in the identical slipstream. According to Galaxy Digital Research, Solana is the main candidate for the first-wave approvals underneath the generic regime, reflecting the maturity of filings and the exchanges’ preparedness to listing them. Issuers together with Bitwise and 21Shares have spent the summer time revising staking, custody and in-kind switch language to suit inside the exchanges’ rulebooks and the SEC’s evolving expectations.

At press time, XRP traded at $2.84.

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