XRP ETF and Solana ETF applications have been officially entered into the SEC federal register, awaiting further approval

ChainCatcher news, the grayscale XRP ETF application has been entered into the U.S. Securities and Exchange Commission (SEC) federal register along with four other Solana ETF applications last week. The Solana ETF applications from VanEck, 21Shares, Bitwise, and Canary Capital were submitted on February 18. Once the applications are entered, a 21-day public comment period will be triggered, and the regulatory agency is expected to decide on approval, rejection, or further review by October 18. If approved, the XRP ETF will provide users with a regulated XRP investment exposure tool.

XRP has increased by over 381% in the past 12 months and is currently attracting attention due to improvements in legal and regulatory matters. Recent recovery drivers include: rumors that U.S. banks may use it for internal trading, and speculation about the SEC's long-term stance in the Ripple lawsuit. The SEC sued Ripple in December 2020, accusing it of raising $1.3 billion through the sale of unregistered XRP and classifying it as a security based on the Howey test.

B2BINPAY CEO Arthur Azizov stated, "The XRP ETF is very likely to launch within the year, with the specific timing depending on the resolution speed of the legal disputes with the SEC."