Three spot altcoin ETFs have recently been listed on the Depository Trust & Clearing Corporation (DTCC) eligibility list, marking a significant step toward their potential launch. The products involved are Fidelity’s Solana ETF (FSOL), and both the XRP ETF (XRPC) and Hedera ETF (HBR) from Canary. While this listing indicates backend readiness for future trading, it does not guarantee approval from the Securities and Exchange Commission (SEC).
Fidelity’s Solana ETF gained entry to the DTCC system on September 11, which allows necessary preparations for clearing and settlement pending regulatory approval. This procedural listing resulted in a notable surge in Solana’s price, which appreciated by over 6% within 24 hours, making it the top performer among major cryptocurrencies during this period. Bloomberg ETF analysts highlight that tickers making it to the DTCC stage generally have a higher likelihood of achieving market launch, although SEC approval remains critical. Current forecasts suggest a 95% chance that the SEC will green light the Solana ETF within October, as market stakeholders anticipate high demand similar to that observed with Bitcoin and Ethereum ETFs.
Canary’s XRP ETF has also secured its place on the DTCC eligibility list, creating significant buzz within the XRP community. Despite technical readiness, the listing does not carry any regulatory implications. Existing futures-based XRP ETFs from other issuers continue to operate actively. A final ruling from the SEC on the spot XRP ETF is now projected for November 14, 2025, with multiple other filings from firms like Franklin Templeton and Grayscale still under review. The DTCC listing is merely a preliminary step in a more lengthy regulatory process. Analysts highlight that, driven by recent CME Group reports of $1 billion in open interest for XRP futures, a spot ETF approval could result in substantial market inflows and price movements. The outlook for XRP’s ETF approval stands at approximately 92% for the current year.
Similarly, Canary’s Hedera ETF, under the ticker HBR, was added to the DTCC platform alongside its counterparts. This procedural step prepares the necessary infrastructure for a possible launch, and following the announcement, Hedera’s token HBAR experienced an uptick of nearly 2%. Though the ETF is still pending approval, it is currently under review with a decision expected in November. Experts predict a 90% likelihood that the SEC will approve the Hedera ETF, which aligns with the growing industry trend toward altcoin ETF products.
Overall, the SEC has been postponing decisions on several altcoin ETF applications, including these three, as it formulates a framework for potential future approvals. These delays represent a broader strategy for reviewing the ETF category, with market watchful for a series of rulings anticipated in October. Additionally, Canary’s Litecoin ETF, which was listed earlier this year, remains without approval, underscoring the uncertainty that continues to surround new altcoin ETFs. Nonetheless, analysts maintain a cautious optimism given the evolving perspectives of the SEC’s leadership. As momentum builds around altcoins, potential ETF approvals may catalyze significant shifts in market dynamics.
