tl;dr
Crypto ETFs are making progress as Fidelity’s Solana ETF (FSOL), Canary’s HBAR ETF (HBR), and XRP ETF (XRPC) appear on the DTCC website, signaling potential movement toward U.S. markets. However, DTCC involvement is a technical step, not a regulatory approval. Experts emphasize that SEC approval r...
**Crypto ETFs Take a Step Closer to Reality: What This Means for Solana, XRP, and HBAR**
The crypto world buzzed in late September as Fidelity’s Solana ETF (FSOL), Canary’s HBAR ETF (HBR), and XRP ETF (XRPC) popped up on the Depository Trust & Clearing Corporation (DTCC) website. For many, it felt like a green light—a sign that crypto ETFs might finally be inching closer to U.S. markets. But as experts quickly pointed out, this move is far from a done deal.
DTCC, a key player in the financial system, handles clearing and settlement for everything from stocks to ETFs. Its involvement with these crypto ETFs is a technical checkpoint, not a regulatory endorsement. “This is just part of the preparation process,” says Wu Blockchain, a market watcher. “Think of it like a pre-launch checklist. VanEck’s VSOL and Canary’s Litecoin ETF went through the same steps before their filings.”
The timing couldn’t be more dramatic. Solana (SOL), HBAR, and XRP all hit September highs in the days following the DTCC listing, fueled by trader optimism. Investors are now speculating that a wave of approvals could be on the horizon—potentially for multiple altcoins at once. If that happens, it could turbocharge these ecosystems. Solana, for instance, has already seen its network thrive with ETF momentum.
But here’s the catch: DTCC listings don’t mean SEC approval. “This is all on the SEC,” warns Nate Geraci, co-founder of The ETF Institute. “The DTCC is just a technical step. Many tickers get added but never launch.” Bloomberg’s Eric Balchunas echoed this, noting that most ETFs listed on DTCC never make it past the paperwork phase.
The SEC’s recent delays—like postponing Canary Capital’s HBAR ETF and Franklin Templeton’s Solana and XRP ETFs—add to the uncertainty. Yet, market sentiment remains bullish. James McKay of McKayResearch estimates over 90 crypto ETFs are waiting in the SEC’s queue. At the current pace, he predicts ETFs for nearly every major cryptocurrency in the top 30–40 could exist within a year, even with delays.
So, where does this leave investors? The DTCC listing is a hopeful sign, but the real battle is still with the SEC. If approvals materialize in Q4, it could extend the altcoin season, giving projects like Solana, XRP, and HBAR a much-needed boost. But for now, the crypto world is left hanging between cautious optimism and the reality of regulatory hurdles.
One thing’s clear: the ETF race is on. Whether it finishes the sprint or stumbles at the starting line will depend on the SEC’s next move.