CHICAGO — The U.S. Securities and Exchange Commission (SEC) has taken another step toward a decision on Solana (SOL) and XRP exchange-traded funds (ETFs) by initiating a public comment period on proposals submitted by Franklin Templeton. These digital asset ETFs, if approved, would be listed on the Chicago Board Options Exchange (CBOE), marking a critical milestone in the integration of altcoins into mainstream finance.
Review Period Extended By 35 Days
The SEC’s move signals interest in gathering public feedback on the proposed ETF listings, but officials caution that initiating public comments does not guarantee approval. The SEC has stressed that a final decision has not yet been made and is using the extended 35-day window to gather insights and assess potential risks.
“The regulator remains cautious,” said a regulatory source. “We are still in the process of evaluating all facets of these altcoin ETF applications.”
This extension pushes the deadline into July, creating renewed anticipation in both crypto and traditional financial sectors.
Cboe BZX Exchange First Filed Rule Change
The ETF proposals originated in March when the Cboe BZX Exchange filed to enable listings for these products. Since then, the process has faced repeated delays due to regulatory scrutiny.
As interest in altcoin ETFs increases, firms such as Bitwise, ProShares, and 21Shares have also submitted applications for Solana and XRP-based investment vehicles, following the precedent set by Bitcoin and Ethereum spot ETFs already approved earlier this year.
VanEck’s ETF Already on Prelaunch List
VanEck’s spot Solana ETF has already made it to the Depository Trust and Clearing Corporation (DTCC) prelaunch list—an indication that approval may be on the horizon.
The SEC’s cautious stance reflects broader regulatory uncertainty under the current administration, even as some enforcement actions have eased in recent months. Still, scrutiny around crypto remains strong, and officials continue to weigh the economic, legal, and investor implications of expanding access to these high-volatility assets.
What’s Next?
The upcoming July decision will serve as a litmus test for the future of altcoin ETFs in the U.S. market. If approved, Solana and XRP products could open the doors for wider adoption and retail investment, while also solidifying Chicago’s CBOE as a central hub for digital asset trading.
Do you think the SEC will approve Solana or XRP ETFs this year? How would that impact your crypto strategy? Share your thoughts in the comments on ChicagoSuburbanFamily.com.
