Top ETF Expert Says Litecoin ETF Could Be Approved First, While XRP & Solana ETFs To Wait!
Litecoin ETF Nears Approval, but Why is Solana ETF Delayed?With a major leadership change coming at the SEC, the fate of crypto ETFs is now hanging in the balance. As Gary Gensler prepares to step down as SEC chair in just 3 days, the market is on edge, wondering how the new leadership will impact the approval process for key assets like Solana, Litecoin, and XRP.Recent reports suggest that while Solana’s ETF has faced a setback, Litecoin is showing signs of a potential breakthrough. Could 2025 be the year Litecoin becomes the first altcoin to secure approval?Keep reading to find out what’s next for these highly anticipated crypto ETFs.Solana’s ETF Setback: What Happened?Fox journalist Eleanor Terrett reported that Solana’s ETF had attracted attention from SEC staff, but its 19b4 filings were rejected a few weeks ago, while Gary Gensler was still in charge. This setback has left many wondering if the leadership change could alter the outcome for Solana’s ETF application.Solana ETFs were also getting engagement from staff but the 19b4s were then rejected. Granted, that was a few weeks ago with the @SECGov still under @GaryGensler who’s out in 3 business days. Will be interesting to see the state of play/timeline for $LTC, $XRP and $SOL ETFs. https://t.co/GEqfElmcoI— Eleanor Terrett (@EleanorTerrett) January 16, 2025With gary gensler gary gensler Gary Gensler is a pioneer and the current chair of the U.S. Securities and Exchange Commission. He has extensive experience that spans Wall Street, government regulation, and an angel teaching about cryptocurrencies and blockchain at MIT. Gary S. Gensler was on born October 18, 1957, in Baltimore, Maryland.He graduated from Pikesville High School in 1975, where he was later given a Distinguished Alumnus award. He also earned a degree in economics.Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Markets from 1997 to 1999, then as Undersecretary for Domestic Finance from 1999 to 2001He has expressed his desire to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages. Chairman stepping down on January 20, the incoming SEC chair could have a big impact on the approval process for these crucial crypto ETFs. The next few weeks will be key to understanding how the new leadership handles these high-stakes decisions.Litecoin’s ETF: Closer to Approval?On the other hand, Bloomberg Senior ETF Analyst Eric Balchunas revealed that the SEC had provided feedback on Litecoin’s S-1 filing, which points to the likelihood of Litecoin’s ETF getting approved soon.We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that's a huge variable. https://t.co/cKFswPwcr0— Eric Balchunas (@EricBalchunas) January 15, 2025Balchunas had predicted that Litecoin would be the next coin to receive ETF approval, and it seems that prediction is becoming more likely. Still, the new SEC chair’s arrival could play a significant role in the final decision.The positive momentum for Litecoin comes after Canary Capital filed an updated S-1 form on Wednesday, taking the first step in registering its Litecoin ETF with the SEC.What’s Next for XRP and Solana?Both XRP and Solana have faced delays in the approval of their ETFs, but there is still hope. The upcoming leadership change at the SEC could bring a fresh perspective, which might help move these applications forward.If these ETFs are approved, they could bring more institutional interest to the cryptocurrency market, potentially boosting overall growth. The coming weeks will be crucial in determining the future of Solana, Litecoin, and XRP ETFs.Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Daily Get real-time crypto news, market insights, and blockchain updates. Weekly Stay updated with major trends, funding news, and price analysis. Monthly Receive a detailed report with market analysis and expert predictions.