Solana and XRP Submit 31 of 96 Record Crypto ETF Applications
ETF expert Nate Geraci predicts a positive future for XRP and other crypto assets following the revelation that the SEC has 96 pending crypto ETF applications, marking the largest wave of such filings to date.
Key Points on Crypto ETF Applications
- The SEC is currently reviewing 96 crypto ETF applications.
- Solana-based ETFs lead with at least 16 filings from various asset managers.
- XRP follows closely with 15 filings from firms like ProShares and Franklin Templeton.
- Other applications include Dogecoin, Litecoin, Chainlink, and Polkadot.
- This trend indicates growing investor interest beyond Bitcoin and Ethereum.
Geraci believes that the approval of these filings could attract substantial institutional funds, enhancing adoption and liquidity in the crypto market. However, the odds of spot XRP ETF approval recently dropped by over 9% to 62% following SEC Commissioner Caroline Crenshaw's opposition to crypto ETFs.
Investors await the SEC's decisions on these 96 applications, reflecting a maturing asset class despite current uncertainties.