The expectations of the next wave of funds traded with crypto exchanges are on the rise, and analysts are pointing to factors that indicate an upcoming regulatory approval. According to analysts, the demand for Spot Solana and XRP ETFs is underestimated. Several issuers, including Grayscale, Vaneck, Franklin Templeton, and Canary/Marinade, have recently updated their Solana ETF applications with the SEC, which reflects the ongoing positive commitment.
The registration tenders for both XRP and SOL ETFs are estimated at 95% before other checked funds are checked. The likelihood of an ETF approval from Solana (SOL) and XRP (XRP) looks more promising. In a post dated September 1st, ETF analyst Nate Geraci commented on the ongoing review of ETFs tracking altcoins and said that the market underestimates the demand for investors for these products. “People underestimate investors’ demand according to Spot XRP & Sol ETFs,” he wrote.
Geraci compared the current prospects with early skepticism in terms of Spot Bitcoin (BTC) and Ethereum (ETH) ETFs, both of which have been strong demand since their start last year. He also referred to his earlier call that Ethereum ETFs would exceed Bitcoin’s, a trend that has now been visible in the past few months and would be doubled that both Sol and XRP ETFs are likely to be headed for admission and success. The analyst’s comments are summarized with broader signals of optimism for the proposed fund.
Fresh Sol ETF updates refer to progress. Several Sol ETF emitters recently updated their various submissions with the SEC, including Grayscale, Canary/Marinade, Franklin Templeton, and Vaneck. This is typically regarded as a positive signal in the ETF review process, and Bloomberg analyst James Seyffart emphasized that these updates reflect the constructive construction between the issuers and the SEC.
At the beginning of July, Seyffart and another analyst presented a 95% probability of approval for XRP and SOL, essentially before the various other funds in the review. The regulatory judgments of the proposed funds are only expected in October. The SEC recently expanded its review time bar, whereby the need for the additional time to assess the applications was listed. For Solana ETFs, decisions are expected around October 16, while decisions about XRP ETFs are expected between October 18 and 23.
While the optimism is high, the final judgment of the SEC in the fund remains uncertain, and whether these ETFs go beyond speculation to achieve real market success depends on their consent. In the meantime, many other old coin-based ETF suggestions were submitted to the SEC, including those who pursue Cardano (ADA), Polkadot (DOT), Avalanche (Avax), Hedera (HBar), and others. For more information, visit https://crypto.news/sol-xrp-etf-momentum-builds-as-analyst-points-to-underestimated-investor-demand/
