EddieJayonCrypto
12 Sep 25
Fidelity and Canary are nearing a potential breakthrough in the altcoin ETF race as the DTCC added three spot ETF products—Fidelity’s Solana ETF (FSOL), Canary’s HBAR ETF (HBR), and Canary’s XRP ETF (XRPC)—to its platform. This move indicates that issuers are preparing for a possible market debut ...
Fidelity and Canary are inching closer to a potential breakthrough in the altcoin ETF race, with a quiet but significant move by the Depository Trust & Clearing Corporation (DTCC) adding three spot ETF products to its platform. Among them are Fidelity’s Solana ETF (FSOL), Canary’s HBAR ETF (HBR), and Canary’s XRP ETF (XRPC). While this step doesn’t mean regulatory approval, it signals that issuers are actively preparing for a possible market debut once the Securities and Exchange Commission (SEC) gives the green light. The crypto community has taken notice, interpreting the DTCC listing as a sign that major players are serious about bringing these funds to market. Bloomberg ETF analyst Eric Balchunas pointed out that such tickers rarely make it to the DTCC system without eventually launching, fueling speculation that these ETFs could be on the horizon. The development has already sparked market action. Solana surged over 6% in 24 hours, outpacing XRP and HBAR, which rose about 2% each, according to data from Grow My Bag. This rally underscores the growing appetite for altcoin exposure, even as the SEC continues to deliberate on ETF applications. The SEC’s cautious approach is evident in its recent delays, including postponing BlackRock’s Ethereum staking ETF and Franklin Templeton’s Solana and XRP spot fund proposals. The regulator is working on a generic framework to streamline future approvals, with analysts predicting bundled decisions in October—a pattern seen in previous cycles. With at least 92 crypto-linked ETF proposals under review, the industry’s demand for regulated altcoin products is clear. While the path to approval remains uncertain, the DTCC’s involvement and market reactions suggest that the race for altcoin ETFs is heating up—and the finish line may be closer than ever.