Altcoin
Solana, XRP & 5 Other ETFs Filed As SEC Chair Gary Gensler to Exit
XRP News: The odds of an XRP, Solana (SOL), & Litecoin (LTC) exchange-traded funds (ETF) have gained significant traction in anticipation of Doland Trump’s upcoming presidential inauguration and Gary Gensler’s exit. Notably, renowned ETF expert Nate Geraci recently revealed that numerous asset managers have submitted filings for multiple crypto-backed exchange-traded products.
In the last 48 hours, entities such as ProShares, VanEck, Canary, and a few others have filed for digital asset-backed ETFs. Here’s a brief report on the recent filings, which appear to have echoed a buzz across the broader industry.
XRP News: Expert Reveals SOL, LTC, & XRP ETF Filings Amid Others
According to an X post by Nate Geraci on January 18, the crypto sector has witnessed seven filings for digital asset-backed ETFs in the past 48 hours. Notably, filings for XRP, SOL, and LTC ETFs, among others, have primarily stolen the spotlight. As per Geraci, filings for ProShares Leveraged & Inverse XRP ETFs, ProShares XRP Futures ETF, ProShares Solana Futures ETF, and Canary Litecoin ETF (19b-4) have been submitted recently.
Further, other filings include VanEck Onchain Economy ETF, Oasis Capital Digital Asset Debt Strategy ETF, and CoinShares Digital Asset ETF. Altogether, these filings ride an optimistic wave as pro-crypto Donald Trump’s presidential inauguration is set for January 20.
Gary Gensler’s Farewell Boosts Market Sentiment For ETFs
Also, it’s worth mentioning that with Gary Gensler concluding his term as the U.S. SEC Chair on Friday, market sentiments over regulatory uncertainties in the crypto realm have taken a paradigm shift. In the wake of Gensler’s resignation, Ripple CLO Stuart Alderoty has also conveyed immense optimism, emerging as bullish XRP news for the whole community.
Meanwhile, it’s noteworthy that Nate Geraci previously predicted that an XRP and Solana ETF would be approved this year as regulatory winds shift. Particularly in the wake of the new U.S. SEC Chair Paul Atkins, who was appointed under Trump’s presidency, crypto market participants remain upbeat.
Further, JPMorgan analysts remained positive over ETF launches ahead, predicting SOL and XRP-backed products to bring an inflow of approximately $15 billion within a year. Overall, the filings amid these broader developments have gained significant traction across the industry,
How Are The Crypto Performing?
Simultaneously, it’s worth pointing out that XRP price exchanged hands at $3.15, down 5% from yesterday. Its 24-hour bottom and high were $3.09 and $3.34, respectively.
On the other hand, SOL price witnessed an 11% uptick to reach $236.41. Its intraday low and high were $212.44 and $237.66, respectively.
Given that the XRP and Solana ETF filings could get approved ahead, market watchers remain highly bullish on future price movements. Also, traders and investors are currently rejoicing that pro-crypto Trump is set to take office shortly, which is another bullish news for XRP, SOL, LTC, and other cryptocurrencies.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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