Crypto News: XRP, Solana, and Other ETFs Filed as Gary Gensler Exits the SEC
The post Crypto News: XRP, Solana, and Other ETFs Filed as Gary Gensler Exits the SEC appeared first on Coinpedia Fintech News
Today marks the final full day for Gary Gensler at the SEC, and as he exits, the ETF industry has been quick to respond with a wave of filings, including XRP and Solana Futures ETFs. Experts like Eric Balchunas from Bloomberg call it a major move, with the ETF industry making a strong statement as Gensler leaves the building.
“Gensler wasn’t even out of the building for 5 minutes and the ETF industry unloaded a massive crypto filing frenzy. Half a dozen so far,”Balchunas wrote.
Nate Geraci, president of The ETF Store, took to social media and shared a series of new ETF filings that have been made in the past 48 hours. These filings include the VanEck Onchain Economy ETF, the Canary Litecoin ETF (19b-4), the Oasis Capital Digital Asset Debt Strategy ETF, the CoinShares Digital Asset ETF, and the ProShares Leveraged & Inverse XRP ETFs. Additionally, ProShares has also filed for both XRP Futures and Solana Futures ETFs.
A Shift in Leadership and the SEC’s Crypto Stance
The filing frenzy comes as a shift in leadership is underway. With Gensler stepping down and Paul Atkins likely to step in, the industry is poised for change. Among the most significant filings are those for the XRP and Solana Futures ETFs. This is crucial because the SEC has historically approved futures ETFs before allowing spot market ETFs for assets like Bitcoin and Ethereum. The filing of these futures ETFs signals the possibility of eventual approval for spot ETFs, setting the stage for major moves in the market.
Big Moves Ahead: A Bullish Outlook
With institutional investors pushing these filings forward, the stakes are high. These players, with their connections to Wall Street and Washington, have inside knowledge of regulatory changes and market trends, signaling that 2025 could be a game-changing year for crypto ETFs.
