#SECETFApproval

The U.S. Securities and Exchange Commission (SEC) is making progress in approving exchange-traded funds (ETFs) for cryptocurrencies, particularly for Solana and XRP. Here’s what’s happening ¹ ²:

- *New Rule*: The SEC is introducing a standardized rule to streamline the listing of spot cryptocurrency ETFs, which could reduce the approval timeline from 240 days to 75 days.

- *Guidance Document*: A 12-page guidance document has been issued, outlining the criteria that issuers must adhere to, including custody methods, competitive risks, and structural characteristics, in clear language.

- *Expected Approvals*: Solana-based ETFs are likely to be among the first funds approved under the new rules, as many issuers are awaiting decisions on their applications.