SEC Regulatory Update on Cryptocurrency ETFs?

Title: SEC to Approve XRP and Solana Joint ETF? Analyst Says Yes

In a surprising turn of events, Bloomberg analysts Balchunas and Seyffart have expressed optimism about the potential approval of an exchange-traded fund (ETF) that combines Ripple’s XRP with Solana. This development comes after the recent approval of Bitcoin and Ethereum ETFs.

According to Balchunas and Seyffart, a dual ETF featuring both XRP and Solana would likely be the next spot crypto ETF approved by the Securities and Exchange Commission (SEC). This news has sent shockwaves throughout the cryptocurrency community, with many expecting a significant impact on the market.

The analysts from Bloomberg point out that there are already ETF applications for XRP-Solana combinations pending approval. While some have speculated that the current SEC administration may not permit such an ETF due to ongoing legal battles surrounding XRP and Solana’s classification as securities, Balchunas and Seyffart remain optimistic about the potential outcome.

In a post, Seyffart noted that both Solana and XRP ETFs will need to wait until the new SEC administration takes control before being seriously considered. This implies that the analysts are anticipating a shift in policy under the new leadership.

XRP is currently trading at $2.54, as shown on TradingView.

It’s worth noting that Cardano could also make a move after Charles Hoskinson expressed his enthusiasm for the cryptocurrency in recent days.

Source: bitcoinist.com