SOLANA AND XRP ETFS FACE JULY DECISION DEADLINE AFTER SEC DELAY

- The SEC has moved closer to decide on Solana $SOL and $XRP ETFs by opening public comments on Franklin Templeton’s proposals.

- These ETFs would list on the Chicago Board Options Exchange, with the SEC extending its review period by 35 days to gather feedback.

- The regulator has yet to make a final decision and stresses that the comment period does not imply approval. The SEC is still cautious, signaling that no conclusions have been reached.

- This development follows months of delays after the Cboe BZX Exchange filed a rule change in March to facilitate ETF listings.

- The new timeline pushes the deadline to July, giving the SEC more time to weigh the risks.

- Interest in altcoin ETFs is growing, with firms like Bitwise, ProShares, and 21Shares also seeking approval for Solana and XRP products.

- Meanwhile, the SEC has already approved spot Bitcoin and Ethereum ETFs, setting a precedent.

- VanEck’s spot Solana ETF recently appeared on the Depository Trust and Clearing Corporation’s (DTCC) prelaunch list—a sign the SEC could approve it soon.

- Despite progress, the SEC’s stance remains measured amid regulatory shifts under the current administration and nominee chair Paul Atkins.

- Enforcement actions against crypto firms have eased, but scrutiny remains.