XRP News Today: SEC May Approve Crypto ETFs Next Month, Sparking Altcoin ETF Summer

The US Securities and Exchange Commission (SEC) is anticipated to commence the approval of certain crypto-tied exchange-traded funds (ETFs) as early as next month, potentially initiating an “altcoin ETF summer,” according to analysts.

Eric Balchunas, a senior ETF analyst, shared a note from fellow analyst James Seyffart on X, indicating that ETFs tracking broad crypto indexes could receive SEC approval next month. The note also suggested that the SEC might act promptly on Solana (SOL) and staking ETF filings, with Balchunas advising to prepare for a potential altcoin ETF summer, with Solana likely leading the way.

Several fund issuers, including Grayscale and Bitwise, have submitted applications to the SEC to launch ETFs that track a variety of cryptocurrencies, aiming to offer broad market exposure. The SEC must make a decision on these filings by July 2, with analysts giving a 90% probability of approval. Additionally, the SEC is reviewing ETFs that track XRP (XRP), Solana, and those offering exposure to staking, with decisions expected later this year.

Duncan Moir, President of 21Shares, highlighted the growing competition among asset managers to launch new crypto ETPs. He noted that as more managers enter the market, basket products, which track a bundle of cryptocurrencies, will become increasingly attractive. Moir suggested that these basket products will be a significant trend, making it easier for investors to gain broad exposure to the crypto market without having to pick individual winners.

Seyffart's prediction that Solana-based funds could lead the way, along with staking for spot Ether (ETH) ETFs, comes as the SEC has instructed fund issuers vying to launch Solana ETFs to update their registration filings. This indicates that the SEC is open to allowing staking for Solana ETFs, pending potential approval.

Nate Geraci, president of ETF Store, stated that the SEC appears ready to open the floodgates on crypto ETFs, which could be the final step before major brokerages offer direct spot crypto trading.

Balchunas also mentioned that there is a strong possibility of an ETF that actively trades memecoins emerging in the future. However, before that, a slew of active crypto ETFs is expected to be launched, with an active memecoin-only fund likely to appear in 2026.

Several asset managers, including VanEck, 21Shares, Grayscale, Bitwise, Canary Capital, Franklin Templeton, and Fidelity, are awaiting the SEC's final decision on their Solana ETF filings. The race for a Solana ETF began after VanEck submitted its S-1 filing last year, with 21Shares and Bitwise following suit. CoinShares may also be looking to add its name to the list of firms seeking approval after registering a CoinShares Solana ETF in Delaware.

The development hints at a possible S-1 filing from CoinShares in the coming weeks. Likewise, analysts noted that Rex-Osprey is attempting to use "legal workarounds" to launch its Solana product and hasten the SEC's decision. The analysts' recent update to their crypto ETF approval odds gave Solana ETFs a 90% chance of SEC approval. According to the analyst's forecast, the SEC may not approve altcoin ETFs until late June or early July if it were to make an early decision.