A fresh wave of crypto ETFs is inching closer as Bitcoin and Ethereum-linked funds gained Wall Street’s investment approval. Fidelity’s proposed Solana ETF (FSOL) and Canary Capital’s planned XRP ETF (XRPC) and Hedera ETF (HBR) surfaced on the Depository Trust & Clearing Corporation (DTCC) website. This move has stoked huge anticipation among investors for a potential launch.
Amid the hype, Solana’s price spiked by 7% over the last 24 hours, while Hedera and XRP posted marginal gains. The cumulative crypto market cap regained the $4 trillion mark, printing green indexes all around. The Fear and Greed index remained “neutral” but rose slightly away from the fear territory.
ETF race heats up
The DTCC website on September 11 added the three products to the National Securities Clearing Corporation roster. This makes them eligible for clearing and settlement should they win approval. However, it is not a green light from regulators. The Securities and Exchange Commission (SEC) must still approve the products before trading can begin.
Bloomberg ETF analyst Eric Balchunas, in a post, noted that while a DTCC listing is procedural, historical precedent suggests that most tickers making it onto the system eventually launch. The commission has repeatedly delayed rulings on altcoin ETFs this year. In August, it pushed back its ruling on Canary’s XRP ETF to a window between October 18 and 23.
Earlier, Cryptopolitan reported that the US SEC delayed Canary’s Hedera ETF decision until November, and extended its timeline for Fidelity’s Solana ETF into October.
Trump Media plots 5 ETFs
The ETF FOMO might peak this season as Trump Media & Technology Group (DJT.O) announced plans for five new “Truth Social Funds” ETFs. It is targeting themes such as American defense, energy security, and red-state real estate. Shares are reportedly set to list on the NYSE Arca later this year.
Meanwhile, money continues to flow into existing crypto products. US spot Bitcoin ETFs drew $553 million of net inflows on September 11. This marks their fourth straight day of gains. BTC price ran up to regain the $115K mark after dealing with days of selling pressure. Its 24-hour trading volume jumped by 5% to stand at $55 billion.
Ethereum ETFs logged $113 million, extending their streak to three sessions. Ether price jumped by more than 2% over the last 24 hours. It’s trading at an average price of $4,523 at the press time.
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Source: https://www.cryptopolitan.com/solana-xrp-hedera-etfs-one-step-closer/