In the cryptocurrency market, attention is once again focused on ETF developments in the US. According to data shared by Bloomberg, the probability of spot ETF approval for Solana and XRP is at 95%. This rate stands at 90% for HBAR. This strong expectation is fueling investor appetite, leading to significant increases in Solana and XRP prices.
The listing of Solana, XRP, and HBAR ETF applications submitted by Fidelity Investments and Canary Capital on September 11th on the DTCC generated excitement in the markets. This listing is known as one of the administrative steps required for a new ETF to trade in the US markets. However, as experts and Bloomberg senior ETF analysts Eric Balchunas and Nate Geraci emphasize, DTCC registration does not guarantee final approval; it merely signals a technical preparation process.
DTCC stands for Depository Trust & Clearing Corporation, or Central Depository and Clearing Corporation.
It is one of the most critical infrastructure institutions in the US financial markets. Its mission is to securely clear, store, and record securities transactions. It is known as one of the largest clearing and custody institutions in the world.
Its role in ETF applications is as follows:
Before a new ETF is launched, it is added to the DTCC list.
Entry onto this list means the product is ready for future trading.
However, this step does not constitute official approval; it is merely a technical and administrative process.
This means these ETFs cannot be traded without SEC approval.
SEC decision expected in October
It is known that the U.S. Securities and Exchange Commission (SEC) will make a final decision on the Solana and XRP ETF applications in October. While market volatility increases during this period, investors expect continued activity, particularly in altcoins. Meanwhile, Canary Capital has attracted attention with its new ETF application, dubbed "America-First," which focuses on digital assets developed in the US.
The REX-Osprey XRP ETF is on the agenda
The hot developments in the crypto ETF race don't stop there. The REX-Osprey Spot XRP ETF officially launched on September 12th. The SEC's failure to raise any objections during the 75-day review period indicated that the fund has been given the green light to trade under the Investment Company Act of 1940. This product will contain XRP tokens directly, rather than futures contracts. This will allow investors to access XRP in a regulated manner through traditional brokerage firms.
ETF optimism in the market has also had a strong impact on altcoin prices. Solana tested the $238 level, recording a 6.3% daily gain. With a 15% weekly increase, it has become the altcoin market leader. XRP has also surpassed the $3.05 level, gaining 8% in the last seven days.
