The U.S. SEC advances XRP, Litecoin, Solana ETF applications

Golden Finance reports that the U.S. Securities and Exchange Commission (SEC) updated applications for several cryptocurrency exchange-traded funds (ETFs) on February 6, marking a step forward in the regulatory body's approval process for cryptocurrency ETFs. Key developments include: Grayscale's Solana and Litecoin ETF applications have received formal acknowledgment from the SEC.

BlackRock has submitted a proposal regarding iShares Bitcoin ETF allowing physical creation and redemption. Cboe has submitted multiple 19b-4 files, applying to list and trade XRP ETFs issued by Bitwise, 21Shares, Canary Capital, and WisdomTree. This move is seen as an important signal that the SEC is gradually accepting cryptocurrencies as mainstream financial assets under a new government policy that is more friendly towards cryptocurrencies. Analysts believe that progress in Litecoin, Solana, and XRP's ETF applications may pave the way for more approvals of cryptocurrency ETFs.