As the SEC prepares for a major leadership change just three days before Gary Gensler steps down as SEC Chairman, all eyes are on the fate of crypto ETFs like Litecoin, XRP and Solana. There is. Recently, FOX journalist Eleanor Tellet revealed that while the Solana ETF is facing rejection, Litecoin's potential is skyrocketing. It could be the first altcoin to be approved in 2025.
Solana ETF faces setback
The Solana ETF had attracted the attention of SEC staff, but faced a setback when 19b4 was rejected, according to Fox's Eleanor Terret. This happened a few weeks ago when Gary Gensler was still leading the SEC.
Perhaps with Gary Gensler stepping down on January 20th, the next SEC chairman could change the trajectory of these important decisions. It will be a waiting game to see how the new leadership handles the approval process for these highly anticipated assets.
Litecoin preparing for first ETF approval!
meanwhile, Bloomberg Senior ETF Analyst Eric Balchunas shared that the SEC has responded with comments on the Litecoin S-1 filing. However, this is a big sign that Litecoin will be approved sooner.
However, Balciunas previously predicted that Litecoin might be the next coin to gain ETF approval, and that prediction now appears to be more realistic. However, the start of the new SEC Chairman's term remains a major factor that could influence the final decision.
Balchunas’ statement came after Canary Capital filed an updated S-1 form on Wednesday, marking the first step in registering a Litecoin ETF with the SEC.
What’s next for XRP and Solana?
As for XRP and Solana, both have faced delays, but there is hope for their ETFs. A change in SEC leadership could lead to new perspectives on these applications.
If these ETFs are approved, they could increase interest from institutional investors and revitalize the entire crypto market. The next few weeks will be crucial in determining the future of Solana, Litecoin, and the XRP ETF.
