XRP ETF and Solana ETF applications are officially entered into the US SEC Federal Register, awaiting further approval

Odaily News Recently, Grayscale's XRP ETF application was entered into the U.S. Securities and Exchange Commission (SEC) federal register along with four other Solana ETF applications last week. The Solana ETF applications from VanEck, 21Shares, Bitwise, and Canary Capital were submitted on February 18. The application will trigger a 21-day public comment period after it is entered, and the regulator is expected to decide on approval, rejection, or further review by October 18. If approved, the XRP ETF will provide users with a regulated XRP investment exposure tool.
XRP has risen more than 381% in the past 12 months and is currently attracting attention due to improved laws and regulations. The drivers of its recent recovery include rumors that US banks may use it for internal trading and speculation about the SEC's long-term litigation stance on Ripple. The SEC sued Ripple in December 2020, accusing it of raising $1.3 billion through unregistered XRP sales and classifying it as a security based on the Howey test.
Arthur Azizov, CEO of crypto payment solution B2BINPAY, said: "XRP ETF is likely to be launched this year, and the specific time depends on the speed of resolving the legal dispute with the SEC." (Decrypt)