Bitwise and VanEck accelerate launch of Crypto ETF, XRP ETF possible in 20 days

Cryptocurrency ETF Competition Heats Up in the US

U.S. asset managers are intensifying their efforts to expand cryptocurrency ETF offerings, as evidenced by Bitwise and VanEck submitting updated filings for new digital asset products. These products are expected to enter the market as early as November, potentially putting XRP and Solana in the same league as Bitcoin and Ethereum within the regulated ETF space, thereby further solidifying cryptocurrency’s place in the traditional financial sector.

Bitwise Leads the Way with an Ambitious XRP ETF Timeline

Bitwise recently filed revised documents for its XRP ETF, amending its language in a manner that experts believe could pave the way for trading to commence within just under three weeks following approval from the SEC. This move comes on the heels of a series of crypto ETF launches, including the inaugural Solana fund, representing a pivotal moment for XRP as it vies for institutional acceptance.

Analysts point out that language adjustments in ETF filings typically signal the final stages before regulatory approval. Bitwise’s streamlined documentation indicates the firm’s confidence that the regulatory review process is nearing completion, hinting at a swift rollout pending official clearance. The updated filing also specifies that the fund plans to list on the New York Stock Exchange and details its fee structure, indicating operational readiness while awaiting regulatory green light.

Increased Institutional Interest in XRP

After grappling with legal challenges and uncertainty for years, XRP has gained traction as an asset with real-world settlement potential and cross-border liquidity applicability. The advent of structured ETF offerings would formalize this shift, exposing older funds, wealth platforms, and corporate treasuries to XRP. As spot ETFs for Bitcoin and Ethereum have opened the floodgates to mainstream investments, observers are now contemplating whether XRP will tread a similar path, with speculation about ETFs fueling optimism and eliciting predictions of price surges across social and institutional circles.

VanEck Elevates the Solana ETF with Staking Rewards

While XRP garners attention, Solana continues to serve as a hub for institutional experimentation, especially in yield-supported frameworks. VanEck’s latest Solana ETF filing incorporates staking rewards, enabling investors to capitalize on both price appreciation and on-chain yield transactions automatically. With its emphasis on rapid institutional appeal, Solana’s high throughput, thriving developer community, and increasing real-world use cases position it as an enticing asset for applications such as on-chain trading, micropayments, and tokenized assets.

A Novel ETF Model Merging Crypto Yield with Traditional Finance Regulations

VanEck’s proposal is noteworthy for blending traditional ETF compliance standards with on-chain economic activity, as stake validation by trusted nodes will maintain custody and risk controls while granting direct crypto holders access to yield layers, previously exclusive to direct crypto investors. Should it secure approval, VanEck’s product would be the first regulated Solana ETF offering staking rewards, underscoring a new era of competitive product listings focused on innovation. With crypto ETFs that support yield potentially appealing to investors seeking income diversification beyond Bitcoin and Ethereum, especially amid forecasts of declining interest rates in traditional markets, a dynamic shift in institutional allocation patterns may be on the horizon.

Wave of ETF Filings Sets the Stage for November Launches

Notably, Bitwise and VanEck are not alone in this endeavor. Fidelity and Canary Funds have also updated filings related to Solana products, shedding delays and signaling heightened issuer confidence in regulatory approvals. Streamlining these procedural steps facilitates faster fund launches once approvals are granted, hinting at a forthcoming surge in product rollouts that could reshape institutional investment trends by year-end.