Following the approval of Bitcoin and Ethereum ETFs in the US, applications for spot ETFs for several altcoins such as XRP, Solana, and Litecoin have emerged. Despite expectations, the SEC has yet to approve any altcoin ETF applications.
Discussion of ETF Applications
Currently, the SEC is reviewing ETF applications for various altcoins, including XRP and Solana. The SEC recently postponed its decision on Franklin Templeton's ETFs for these altcoins and requested public comments on the proposed rule changes.
SEC's Position on Altcoins
The SEC continues to ask questions and invite the public to share opinions on the proposed ETFs for XRP and Solana. The call for comments is expected to be received within the next four weeks.
Analysts' Predictions
Analysts such as James Seyffart and Eric Balchunas from Bloomberg believe the SEC's postponement decision was not a surprise. They predict that ETFs for Solana could be approved in a month. "I wouldn't be surprised if we see approvals for Solana ETFs in the next month or so," Seyffart remarked.
Thus, despite delays in approving ETFs for altcoins, the news from the SEC and the optimistic forecasts from analysts leave hope for swift approval.
