Investors are awaiting the SEC’s decision on Solana, XRP, and DOGE spot ETFs.
The deadline for the SEC ( Securities and Exchange Commission ) to make a decision on several crypto-based exchange-traded funds (ETFs) is approaching . Among the cryptocurrencies under scrutiny are Solana, XRP, and even the meme coin Dogecoin.
The U.S. stock exchange has already approved Bitcoin and Ethereum-based funds last year, and now investors are wondering which altcoin will be the next to benefit from increased liquidity and demand.
What could be the first ETF to be approved?
The Securities and Exchange Commission has again postponed its decision on the Polkadot ETF, originally scheduled for today, June 11.
The American regulator has requested more time. The agency has postponed its decision to gather new comments and re-examine the proposal. And that's not the only stop: the spot ETF based on HBAR, proposed by the investment firm Canary Capital, has also been postponed.
All eyes are now on the June 13 deadline for Canary Capital’s Litecoin-based fund.
Attention is also turned to other well-known projects such as Solana, XRP and Dogecoin.
Solana seems to be the favorite . Investor expectations are sky-high: many experts are already talking about a possible early approval.
With the SEC asking issuers to file Form S-1 by next week, many analysts are betting that the green light will come within 3-5 weeks . This is according to DB analyst and Bloomberg analysts have also hinted that the green light could come very soon.
The S-1 form is the first official document that companies must submit to the stock exchange when they want to list a new security on the stock exchange or, as in this case, an ETF. It is used to provide all the necessary information: risks, financial data, objectives of the offering.
Investors’ expectations are understandable, given that several issuers have submitted applications for a SOL- based fund . The list includes VanEck, Bitwise, Fidelity, Grayscale, and 21Shares.
A summer full of expectations and decisions…
The race is also getting tight for the spot ETF on XRP. The SEC will have to rule on the Franklin Templeton proposal by June 17 , then it will be ProShares' turn on June 25.
Optimism around Ripple is strong, but the still-open lawsuit against the SEC continues to weigh and fuel uncertainty.
Eyes are also on the meme coin Dogecoin. The Grayscale Dogecoin ETF is currently under review, with a decision expected by the end of the month.
With so many verdicts expected in just a few weeks, investors have already dubbed the month: “The Summer of Altcoin ETFs.”
Meanwhile, several analysts have released their forecasts, while investors continue to focus on their favorite assets.
According to betting market Polymarket, the odds of an XRP ETF being approved are at 87%, down from 98.2% at the start of the month. Solana leads the way at 91% , with Dogecoin following at 69%, and other altcoins with similar odds.
Bloomberg analyst James Seyffart tweeted on X that Litecoin and Solana are in pole position with a 90% probability. The advantage would be due to three factors: the application submitted via Form 19b-4, the commodity status and the presence of futures products already regulated by the Commodity Futures Trading Commission (CFTC), the U.S. federal authority that regulates derivatives markets.
XRP follows with a probability of 85%, while Dogecoin and HBAR are estimated at 80%. Among the products considered less likely by analysts are those based on Sui and Tron.
Overall, it seems like the larger altcoins have a good chance of getting regulatory approval, at least by current standards.
But there are still questions about the timing. The SEC has already postponed several decisions, and given the high number of requests and regulatory challenges, further delays could arrive.
With Solana’s spot ETF likely to be the first to get approval, interest in its ecosystem is growing. And among the most followed projects is Solaxy , a Solana-based layer-2 designed to solve the network’s limitations of scalability and overhead.
Layer 2 groups transactions, processes them off-chain, and then finalizes them on the mainnet. The result is seamless transactions even during times of high activity.
The native token, $SOLX, is multi-chain: compatible with both Solana and Ethereum. Its presale is still active, but there are only five days left before it hits exchange listings.
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