The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin XRP and Solana ETFs, raising investor expectations.
When Will the SEC Approve Solana ETFs
Bloomberg ETF analyst James Seyffart stated that the SEC's delay on these applications was not unexpected. The agency also initiated a request for public comments on proposed rule changes over the next month.
Market Impact
The delay on the final decision for altcoin ETFs may postpone the anticipated altcoin price surge in 2025. In 2022, the approval of Bitcoin and Ethereum ETFs disrupted the traditional cash rotation from Bitcoin to altcoins.
Prospects for ETF Approval
Given the increasing demand for Solana from institutional investors and the recent approval of the first Solana ETF in Canada, the chances of SEC approval for Solana and XRP ETFs have risen. "I wouldn't be completely shocked if we see approvals for Solana ETFs in the next month or so," noted Seyffart.
As the market awaits the SEC’s final decisions, attention will be on the developments regarding the Solana and XRP ETFs.
