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Crypto News: Two-Month Countdown Begins for Possible XRP and Solana ETF Approval
The crypto space is bracing itself for a potential wave of approvals as the US Securities and Exchange Commission (SEC) considers more than 75 crypto exchange-traded fund (ETF) applications. This comes as NovaDius Wealth Management President Nate Geraci predicts that a floodgate of approvals may open within the next two months.
According to Geraci, the recent move by the three major stock exchanges, NYSE, NASDAQ, and CBOE, to file with the SEC for a generic listing standard for crypto ETFs would streamline the approval process. This change in policy would allow XRP ETFs, Solana ETFs, Cardano ETFs, and other similar applications to be approved more quickly.
Geraci believes that this development could lead to a surge in approvals, stating, “If and when that happens, I think you’re going to see floodgates open. And you’re going to see a boatload of crypto ETFs coming to market.”
The recent $26 billion inflow into crypto ETFs highlights the growing interest and confidence among investors. Geraci attributes this strong regulatory tailwind behind the rapidly growing crypto space to the SEC’s efforts in providing clarity on regulations.
Moreover, he applauds the recent crypto legislation that passed in the House, such as the GENIUS Act and CLARITY Act, alongside the SEC’s ‘Project Crypto.’ This development has provided a favorable environment for investors to participate in the market.
Source: coinpedia.org
