Investors in the cryptocurrency space have been abuzz this week following the appearance of ETFs for Solana, XRP, and Hedera (HBAR) on the Depository Trust & Clearing Corporation (DTCC) eligibility list. The addition of these financial products, including Fidelity’s Solana ETF (FSOL), Canary Capital’s XRP ETF (XRPC), and Hedera ETF (HBR), has sparked renewed optimism about potential approval from the SEC.
While these listings are a significant milestone for ETF infrastructure, experts remind investors that they do not equate to regulatory approval. However, they indicate that the necessary preparations for launching these financial products are well underway. Bloomberg analysts have assigned a high probability of SEC approval for these ETFs, estimating a 95% likelihood for both the Solana and XRP ETFs, and a 90% chance for HBAR.
The sentiment in the market has shifted positively following news of these listings. Notably, HBAR saw a remarkable 25% increase, buoyed not only by the ETF news but also by developments regarding new stablecoins. Solana gained more than 6% within 24 hours, contributing to a 15% increase over the week. XRP made noteworthy strides as well, crossing the $3.05 mark with an 8% increase in just the past week. This general uplift contributed to the overall crypto market cap rebounding above $4 trillion, showcasing a wave of renewed investor confidence.
In addition to these developments, the upcoming launch of the REX-Osprey Spot XRP ETF on September 12, 2025, is set to be a significant event. This ETF has successfully passed the SEC’s 75-day review period without objections and is compliant with the Investment Company Act of 1940, marking it as the first spot XRP ETF to enter the market. The launch of this product is expected to pave the way for other similar offerings, such as those from Franklin Templeton, Grayscale, and Bitwise, which currently have applications pending with the SEC.
Despite the promising developments, recent delays in Ethereum staking ETFs and the previous Litecoin ETF from Canary indicate that the SEC is taking a cautious approach toward altcoin-focused financial products. Investors are now eagerly awaiting upcoming deadlines for decisions: the SEC is expected to make a ruling on XRP by November 14, 2025, while decisions regarding Solana and HBAR are anticipated in October.
In the crypto ETF landscape, the quiet inclusion of these tickers on the DTCC’s platform has been interpreted as a positive signal that major players are preparing systems for imminent launches. Analysts suggest that the convergence of backend developments and widespread analyst confidence could indicate that the finish line for SEC approvals may be near.
As scrutiny on altcoins intensifies, the situation surrounding HBAR is particularly noteworthy as it gains traction. The successful debut of the REX-Osprey XRP ETF will likely serve as a critical benchmark for future spot altcoin ETFs. With a bustling couple of months ahead for crypto ETFs, industry watchers are poised for potential transformative changes in financial products tied to cryptocurrencies.
