The World's Giant DTCC Has Made an Exciting Decision for XRP and Two Altcoins! Is Approval Coming?

The SEC has not approved any altcoin ETFs other than Bitcoin and Ethereum to date. Currently, ETF applications for altcoins like XRP and Solana (SOL) are pending before the SEC. At this point, while altcoin ETFs are expected to be approved one after another in the coming months, an important development has occurred. Accordingly, the Depository Trust & Clearing Corporation (DTCC) reported that it has listed the Fidelity Solana (SOL) ETF, Canary Hedera (HBAR) ETF, and Canary XRP (XRP) ETF on its website. This listing has created excitement in the cryptocurrency community as it signals that these ETFs may soon be approved by the SEC. Nate Geraci, Head of Asset Management at NovaDius, who is monitoring DTCC's listing, said: “DTCC listing the Fidelity SOL ETF and Canary XRP & HBAR ETFs means *nothing* from a regulatory perspective. It all depends on the SEC.” A DTCC listing is generally considered a positive signal for an ETF considering launch. However, a DTCC listing is independent of U.S. Securities and Exchange Commission (SEC) scrutiny and does not guarantee listing. DTCCs play a crucial role in the American ETF market. When an ETF is added to the DTCC list, it means that an intermediary bank has requested a DTCC designation for that ETF fund, and the DTCC may execute this action at an unspecified future date following SEC approval. According to Bloomberg, the XRP and Solana ETFs have a 95% probability of approval, while the HBAR ETF has a 90% probability. While the SEC's deadline to approve or reject XRP and Solana is October, the SEC has so far postponed all altcoin-related ETF applications until the deadline. *This is not investment advice. Continue Reading: The World's Giant DTCC Has Made an Exciting Decision for XRP and Two Altcoins! Is Approval Coming?