The US Securities and Exchange Commission (SEC) has paved the way for potential approval of XRP and Solana (SOL) ETFs, two promising digital assets. With high stakes, the crypto industry eagerly anticipates these regulatory decisions. Learn the implications of this announcement for investors and the cryptocurrency ecosystem.
The SEC has announced that it is opening a public comment period on two exchange-traded funds (ETFs) related to cryptocurrencies XRP and Solana (SOL), filed by asset manager Franklin Templeton. These ETFs would be listed on the Chicago Board Options BZX Exchange.
This decision by the US regulator marks a crucial step in the evolution of digital asset regulation. While the SEC has already approved investment vehicles for Bitcoin (BTC) and Ethereum (ETH), many companies are now vying for authorization for tokens like XRP and SOL.
The opening of Franklin Templeton’s ETF proposals for public comments extends the SEC’s decision deadline to the end of July, with the possibility of further delay. This announcement comes as the crypto industry keenly watches the regulator’s decisions, which will have a significant impact on investment opportunities in the digital asset ecosystem.
According to expert Eric Balchunas, the chances of approval for Franklin Templeton’s Solana ETF are now at 90%.
Indeed, the approval – or not – of these ETFs related to XRP and Solana could pave the way for increased institutional adoption of these assets. Many companies, including Bitwise, ProShares, and 21Shares, have already filed similar requests with the SEC.
It is noteworthy that the SEC’s approach to digital assets underwent a radical change during the Trump administration. Under the presidency of Trump-appointed Paul Atkins, the regulator notably dropped several lawsuits against cryptocurrency companies.
While it remains uncertain if this favorable trend will extend to XRP or Solana-linked ETFs, there have been reports that former President Trump was considering including these assets in a potential “cryptocurrency stockpile” in the United States.
In conclusion, the opening of Franklin Templeton’s XRP and SOL ETF proposals for comments represents a crucial step in digital asset regulation in the United States. With the constantly evolving regulatory framework and growing interest in crypto investments, the industry is closely monitoring these developments that could create new opportunities for investors.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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