Trump’s Return Sparks XRP, Solana ETF Frenzy as Gensler Exits SEC

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Update on XRP News: The prospect of Exchange-Traded Funds (ETFs) for XRP, Solana (SOL), and Litecoin (LTC) has seen a surge in attention ahead of Donald Trump’s presidential inauguration and Gary Gensler’s departure. Importantly, well-known ETF expert Nate Geraci has disclosed that several investment managers have submitted applications for various cryptocurrency-backed exchange-traded products.

Over the past two days, companies including ProShares, VanEck, Canary, and some others have submitted applications for Exchange-Traded Funds (ETFs) backed by digital assets. Here’s a quick rundown of the latest filings that seem to be causing a ripple effect throughout the wider industry.

XRP News: Expert Reveals SOL, LTC, & XRP ETF Filings Amid Others

Based on a post by Nate Geraci dated January 18th, the cryptocurrency market has seen seven applications for exchange-traded funds (ETFs) backed by digital assets over the past two days. These filings, including ones for ETFs based on XRP, Solana (SOL), and Litecoin (LTC), have drawn significant attention. Specifically, applications have been made for various ETFs from ProShares such as leveraged and inverse XRP ETFs, an XRP futures ETF, a Solana futures ETF, and the Canary Litecoin ETF (19b-4).

Additionally, among the other submissions are VanEck Onchain Economy ETF, Oasis Capital Digital Asset Debt Strategy ETF, and CoinShares Digital Asset ETF. Collectively, these filings reflect a positive outlook as the inauguration of pro-crypto Donald Trump as president is scheduled for January 20.

Gary Gensler’s Farewell Boosts Market Sentiment For ETFs

As a crypto investor, I’ve noticed a significant change in market sentiments lately regarding regulatory uncertainties. With Gary Gensler stepping down as the U.S. SEC Chair on Friday, there seems to be a new perspective emerging in the crypto world. The departure of Gensler has sparked optimism, especially from Ripple’s Chief Legal Officer Stuart Alderoty, who recently expressed a positive outlook. This news has sent ripples of excitement throughout the XRP community, making me more hopeful for the future of my investments in this dynamic sector.

It’s worth mentioning that Nate Geraci had forecasted earlier this year that an XRP and Solana ETF would gain approval as regulatory trends change. This optimism among crypto market players is heightened following the appointment of Paul Atkins as the new U.S. SEC Chair, who took office during Trump’s presidency.

Additionally, JPMorgan analysts continue to express optimism about upcoming ETF launches, anticipating that SOL and XRP-backed products could attract around $15 billion in the next twelve months. Notably, the applications for these funds have generated considerable interest within the wider financial sector.

How Are The Crypto Performing?

At the same time, let me mention that the value of XRP was traded at around $3.15 today, representing a 5% decrease compared to its price yesterday. The lowest and highest points in the last 24 hours were $3.09 and $3.34 respectively.

However, on the contrary, the SOL price experienced a significant increase of 11%, touching $236.41. Its lowest point during the day was at $212.44 and peaked at $237.66.

As a crypto investor, I’m excited about the prospect of both XRP and Solana ETFs potentially getting approved soon, as this has market enthusiasts feeling extremely optimistic regarding future price surges. Moreover, the imminent arrival of a pro-crypto president like Trump in office is causing a wave of joy among traders and investors, as it’s seen as another positive sign for XRP, SOL, LTC, and other cryptocurrencies.

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2025-01-18 10:54