Solana, XRP, and Hedera ETFs edged closer to launch
Key Cryptocurrency ETFs are inching toward regulatory approval.
Fidelity investments and canary Capital have made strides toward launching spot cryptocurrency exchange-traded funds (ETFs) for solana, Hedera, and XRP. Their proposed ETFs were recently added to the Depository Trust & Clearing Corporation’s National securities Clearing Corporation list. This update is a crucial step,but it doesn’t guarantee approval.
- Fidelity’s Solana ETF is listed under ticker FSOL.
- Canary’s XRP ETF marks the XRPC ticker.
- Canary’s Hedera ETF uses the HBR ticker.
The SEC must still approve these etfs before they can trade legally in the U.S. The agency has set deadlines for each: late October for XRP and early November for solana and Hedera.
Analysts like ERIC Balchunas of Bloomberg believe these ETFs have a strong chance of approval. He estimates 95% odds for Solana and XRP, with slightly lower chances for Hedera. Historical data supports these predictions as well.
The addition of these tokens to the list has boosted their prices too. Solana saw a 7% spike in the past 24 hours. XRP and Hedera witnessed smaller but significant increases.
Bloomberg analyst James seyffart expects robust investor interest once these ETFs hit the market. Investor Nate Geraci agrees, pointing out that demand for spot XRP and Solana ETFs might exceed expectations.
