ProShares, a leading firm in the ETF sector, has submitted applications for Solana and XRP ETFs, aiming for a June 2025 launch, pending SEC approval.
ProShares' ETF Applications for Solana and XRP
ProShares has filed for spot ETFs targeting Solana and XRP, awaiting SEC approval in the United States. The initial submission was made on January 17, 2025. No comments have yet been made by ProShares' leadership regarding the filings.
Institutional Interest in Altcoins
Recent reports indicate growing institutional interest in altcoins beyond Bitcoin and Ethereum. Franklin Templeton is also pursuing an XRP ETF, highlighting rising interest in regulated crypto assets.
Potential Market Effects
If SEC approval is granted, it could lead to increased asset liquidity and higher trading volumes. This is expected to broaden traditional investor access to these tokens, potentially boosting growth in Solana's DeFi protocols and XRP's on-chain activity. Historically, ETF approvals have led to significant price and volume growth.
Anticipation of approval for Solana and XRP ETFs is generating optimism among market participants. This could set a precedent for additional altcoin ETFs and lead to clearer regulatory frameworks for digital assets.
