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Approval of Litecoin ETFs Likely Before XRP and Solana

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by Giorgi Kostiuk

a year ago

The SEC is considering the approval of a Litecoin-based ETF, while XRP and Solana face legal hurdles.

Priority for Litecoin ETFs

Eric Balchunas, a renowned ETF analyst, has suggested that the SEC might prioritize approving a Litecoin ETF due to its less contentious legal status compared to XRP.

Challenges for XRP and Solana ETFs

Earlier this month, the SEC reportedly informed two issuers of its intent to reject filings for spot Solana ETFs, indicating cautiousness towards cryptocurrencies considered as securities, including XRP and Solana.

Changes in SEC Leadership

The SEC is expected to adopt a more crypto-friendly approach next year as Paul Atkins is set to replace current Chair Gary Gensler. However, this shift does not guarantee immediate approval for XRP or Solana ETFs.

The first wave of cryptocurrency ETFs is likely to focus on Bitcoin and Ethereum, with Litecoin and Hedera possibly following due to simpler regulatory considerations.

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