XRP News Today: SEC Accelerates Altcoin ETF Reviews, Approval Likely by July

The U.S. Securities and Exchange Commission (SEC) is expediting its review of spot funds tied to major altcoins, including Solana, Dogecoin, and SUI, with a decision expected by mid-to-late July. This accelerated process has sparked predictions of an "altcoin ETF summer," with analysts estimating a high probability of approval for several altcoin ETFs.

According to analysts, Solana has a 90% probability of approval, followed by Litecoin at the same probability. Dogecoin and XRP are also expected to have a high chance of approval, with probabilities ranging from 75% to 85%. The SEC has set a deadline of mid-June for issuers to update their S-1 filings, with a 30-day comment window leading to a likely decision by mid-to-late July.

The SEC's fast-tracked process is seen as a bullish signal, particularly for Solana. The regulatory body has also pushed issuers to adopt cash-only creation models, which reduce broker-dealer risk and are seen as a new gold standard for ETF approvals. This shift has led to the postponement or denial of non-compliant ETFs that propose in-kind redemption mechanisms.

Compliant ETFs, such as the 21Shares SUI ETF and the VanEck Solana Trust, have adopted cash-only settlements and avoided in-kind redemptions. However, the Grayscale XRP ETF is still negotiating custody conditions with the SEC. The SEC has also mandated more aggressive surveillance arrangements to detect market manipulation, requiring collaborations with futures markets and cryptocurrency exchanges.

If approved, these altcoin ETFs could drive a significant influx of liquidity into the altcoin market, potentially reshaping the dominance charts. VanEck expects Solana to hit $500 post-ETF, while the Nasdaq's 21Shares filing has already injected $300 million into European ETPs. Dogecoin's approval chances are also tied to rumors of integration with Elon Musk's Twitter.

The SEC's altcoin ETF spree represents a significant shift in crypto regulation. While Solana is expected to lead the way, niche tokens like SUI could also see a surge in value. July's approvals could ignite a summer rally or expose the weaknesses of the SEC's "cash-only" model. Either way, Bitcoin's dominance in the crypto market is under scrutiny.