SEC to Decide on 16 Crypto ETFs in October Including Solana, XRP, Dogecoin

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The post SEC to Decide on 16 Crypto ETFs in October Including Solana, XRP, Dogecoin appeared first on Coinpedia Fintech News

October could bring a wave of new crypto exchange-traded funds (ETFs) as the U.S. SEC prepares to make final decisions on 16 proposals. These ETFs cover a mix of major altcoins like Solana, XRP, and Litecoin, as well as popular memecoins such as Dogecoin. 

These approvals could signal a major shift in the SEC’s stance, showing a more open approach to crypto investments and would lead to wider adoption in the markets. 

‘Enormous’ Weeks Ahead for Crypto ETFs

Nate Geraci, president of ETF Store, calls the next few weeks enormous for spot crypto ETFs, with deadlines approaching for numerous filings, starting this week with Canary’s spot Litecoin ETF. 

After that, the SEC will consider decisions on ETFs tied to Solana, Dogecoin, XRP, Cardano, and Hedera. Geraci also notes that the SEC can choose to approve any or all of them at any time.

BlackRock, Fidelity ETFs Missing

Notably, analysts have also pointed out that none of the October deadlines involve Fidelity or BlackRock, the two biggest names in crypto ETFs. But still, these filings are worth keeping an eye on in the weeks ahead.

Previously, Bloomberg analysts have rated the chances of most spot crypto ETF approvals at 90% or higher, seeing the SEC’s engagement as a very positive signal. Adding to the momentum, the SEC recently approved the new standard for commodity-based trust shares, which could make it easier and faster to launch spot crypto ETFs.

James Seyffart called it a positive step toward a “wave of spot crypto ETP launches.”

Altcoin Rally Next?

The SEC currently has 92 crypto ETF filings waiting for approval. Analyst Virtual Bacon advises investors to expect a steady flow of ETF news in the coming months but not to chase individual coins as institutions are adopting them broadly, entering a new phase for the market.

Investor Ted Pillows also notes that spot ETFs for SOL, XRP, DOGE, and LTC face final deadlines next month, with a high chance of approval. He suggests two possible outcomes: either a quick spike followed by a drop, or a smaller dip first followed by a sustainable rally.

If these crypto ETFs get approved, it could make investing in cryptocurrencies much easier and safer for everyday investors. More institutional money could flow into the market and there will be wider adoption of these coins. While individual coin movements may fluctuate, the overall trend shows that the market is entering a new phase.