VanEck Solana ETF Appears On DTCC List As Polymarket Odds For SOL And XRP ETF Approvals Surge
VanEck’s proposed spot Solana ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) website, a strong procedural sign that Securities and Exchange Commission (SEC) approval may be near.
The move coincides with rising trader confidence on Polymarket that both Solana and XRP ETFs will be approved in 2025.
Odds on Polymarket contracts now show a 91% chance that a Solana ETF will be approved this year, while the probability for an XRP ETF hit 90% after the SEC opened public comments on Franklin Templeton’s proposals for both assets.
Traders Confident Solana ETFs Could Will Gain Approval By End July
Odds on a contract for a Ripple (XRP) ETF approval this year jumped 19% in the last 24 hours, pushing the odds to 90%. Similarly, odds on a contract asking whether SOL ETFs will get the regulatory nod surged 17%, pushing the total odds to 91%.
In the short term, users on Polymarket are also confident that a spot SOL ETF will be approved as soon as the end of July. Odds on a related contract pumped 9% in the past 24 hours as well, with more than half of the votes confident the approval will happen in this time frame.
However, Polymarket users are not as confident that an XRP ETF will get the greenlight next month, with odds on a contract asking the question plunging 37%. This is likely due to Ripple’s ongoing legal case with the SEC.
SEC Opens Franklin Templeton ETFs To Comment
The surge in SOL and XRP ETF approval odds on Polymarket comes after the SEC opened public comments for two proposed ETFs by Franklin Templeton to be listed on the Chicago Board Options BZX Exchange.
In a group of filings yesterday, the regulator said it was moving forward with proceedings that could allow the exchange to trade shares of the Franklin XRP ETF and Franklin Solana ETF.
That’s after the Cboe BZX Exchange filed for a proposed rule change with the agency back in March to allow for the approval of the investment vehicle. The SEC had delayed a decision on the proposed rule change in April, setting an intermediary deadline for the decision to yesterday.
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