SEC Weighs Solana and XRP ETF Applications

The U.S. SEC is considering multiple applications for Solana and XRP exchange-traded funds (ETFs), indicating a potential shift in regulatory attitudes toward crypto assets. Grayscale has filed for a spot XRP ETF, but the ongoing legal battle between Ripple and the SEC could delay approval until a resolution is reached. Solana ETFs, proposed by firms like Canary Capital, VanEck, and Bitwise, face challenges due to the SEC's classification of Solana as a security, though recent acknowledgments suggest a changing stance. Analysts predict a higher probability of Litecoin ETF approval due to its classification as a commodity, despite continued interest in Solana and XRP ETFs. The SEC's forthcoming decisions on these ETFs could significantly impact the broader crypto market, as financial institutions continue their pursuit despite regulatory hurdles. Approval of these ETFs could reshape crypto markets, although the exact timing remains uncertain.