Key Update and Clarification on XRP, SOL, and HBAR ETF Listings: Details
TL;DR
- The Depository Trust and Clearing Corporation (DTCC), a US-based clearing and settlement organization, recently listed a few applications for digital asset exchange-traded funds.
- While many regarded the development as an almost guarantee that an SEC approval would follow soon, ETF experts rushed to clear the air.
The organization’s eligibility list recently added the spot ETF applications that would track the performance of XRP, HBAR, and SOL. More precisely, the ETFs in question are Fidelity’s (FSOL), Canary’s (XRPC), and Canary’s (HBR).
The tickers and details are added to DTCC’s system, showing brokers, exchanges, and market makers that they can process trades once (or if) the ETFs are approved by the SEC.
However, the listing itself does not guarantee a green light from the US regulator. It’s a necessary step that indicates the ETF issuers are preparing the funds to trade, but the final word still lies with the agency.
Nate Geraci, President of NovaDius Wealth and co-founder of the ETF Institute, clarified that this development, while positive, doesn’t move the needle in terms of actual approval. His statement was echoed by other ETF experts, such as Eric Balchunas and James Seyffart.
XRP leads in terms of the most applications sitting on the US SEC desk for spot ETFs. Although the Commission recently delayed making a decision on another filing, the overall odds for an XRP ETF this year continue to be quite high, as Polymarket data shows a 93% chance for a green light.
SOL’s odds on the popular website are even more promising, as they have soared to almost 100% in the past few weeks.
The post Key Update and Clarification on XRP, SOL, and HBAR ETF Listings: Details appeared first on CryptoPotato.
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