Fidelity’s Solana and Canary’s XRP and HBAR ETFs are now registered with the DTCC, marking an important step toward market entry, though regulatory approval remains uncertain.
DTCC ETF Registration
Fidelity's proposed Solana ETF and Canary Capital’s planned XRP and HBAR ETFs have appeared on the Depository Trust & Clearing Corporation (DTCC) website, indicating readiness for potential market entry. While these listings do not imply regulatory approval, they reflect preparations for trading, clearing, and settlement. The SEC still needs to approve these products, and issuers must secure the effectiveness of their S-1 filings before launch.
SEC Approval Expectations
Analysts predict a 95% chance of approval for Solana and XRP ETFs, while Hedera’s HBAR ETF stands at 90%. October is the expected deadline for SEC decisions on these funds, as the commission has postponed all altcoin ETF applications until that date. It is crucial to understand that DTCC listings do not equate to imminent trading.
Prospects for Altcoin ETFs
Each ETF (SOL, HBAR, XRP) has distinctive features that have garnered investor interest. Solana offers high throughput and low transaction costs, Hedera provides enterprise-level performance, and XRP facilitates international payments with low costs and fast transactions. However, successful market entry for these ETFs depends on SEC approval and the effectiveness of S-1 filings.
The registration of Solana and XRP ETFs in DTCC represents a significant advancement, but final SEC approval remains uncertain and requires further observation.
