Oh, the delightful flutterings in the crypto sphere! It seems our dear Fidelity’s Solana ETF (FSOL), Canary’s HBAR ETF (HBR), and the positively intriguing XRP ETF (XRPC) have deigned to appear upon the digital ledgers of the Depository Trust & Clearing Corporation (DTCC). Such drama! One might almost suspect a plot – though, naturally, I attribute it to sheer boredom on the part of the financial institutions.
This development, you see, is hailed as a stride towards introducing these… *novelties*… to the American market. But one wonders, does this listing signify genuine progress, or merely a feverish anticipation fueled by the hopeful, yet frequently misguided, investor? A question, to be sure, worthy of contemplation over a particularly fine glass of champagne. 🥂
What the Oracles (aka, Experts) Say About These Listings
The DTCC, you understand, is a rather important fellow in the world of post-trade processing, handling the mundane yet vital tasks of clearing and settlement. A necessary evil, one might say – though considerably less amusing than a witty repartee.
Our resident market watcher, the ever-observant Wu Blockchain, informs us this appearance is merely preparation for a launch. Apparently, VanEck’s VSOL and Canary Capital’s Litecoin ETF also enjoyed a brief moment in the DTCC spotlight previously. How… exclusive. 🙄
And how predictably, SOL, HBAR, and XRP have all peaked in September. It appears the market, like a fickle debutante, is easily swayed by rumours and shimmering promises.
Naturally, investors are clutching at straws, imagining a glorious, coordinated approval of all these… *assets*. Such approvals, they believe, will bolster these tokens and their ecosystems. One suspects they overestimate the generosity of fate. If this all happens in Q4, it would simply prolong the inevitable, wouldn’t it? 🤦
However, let us not get carried away. A DTCC listing is, as the Americans say, “not a done deal.” Merely a technicality. A mere tick in a rather long and bureaucratic box.
“DTCC listing Fidelity’s Solana ETF and Canary’s XRP & HBAR ETFs doesn’t mean anything from a regulatory standpoint. It’s all on the SEC,” observes Nate Geraci, a gentleman whose vocation seems to be stating the obvious. A perfectly respectable pursuit, I suppose.
Eric Balchunas, a Bloomberg analyst, echoes this sentiment, pointing out that most tickers get added, then promptly forgotten. A rather sad fate, really. Like a promising young playwright whose work is never produced.
The SEC, in its infinite wisdom (or perhaps, infinite procrastination), has delayed approvals for HBAR, Solana, and XRP. Yet the market, in its charming naiveté, still places a high probability on approval before year-end. Such optimism! bless their hearts.
James McKay, a founder of McKayResearch, estimates over 90 crypto ETFs are languishing in the SEC’s waiting room. He predicts, with admirable confidence, that within a year, we might have ETFs for nearly every cryptocurrency in the top 40. Are we to be deluged with these things? The very thought! 😱
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2025-09-12 10:47