SEC’s Bold ETF Shake-Up Could Greenlight XRP, Solana, and Shiba Inu by October

The U.S. Securities and Exchange Commission (SEC) has introduced a sweeping new framework for approving cryptocurrency exchange-traded products (ETPs), potentially enabling over a dozen top digital assets, including Solana, XRP, and Shiba Inu, to qualify for ETF listing as early as October 2025.

Under the Generic Listing Standards, the SEC has made futures market activity the core qualifying criterion for ETF approval. Any cryptocurrency that has traded futures contracts on designated exchanges, such as Coinbase Derivatives, for at least six months will now be automatically eligible for ETP listing.

This change sidelines traditional requirements like market cap, liquidity thresholds, and float percentage, marking a significant departure from conventional ETF approval processes.

CFTC Emerges as Key Gatekeeper

The shift effectively transfers oversight from the SEC to the Commodity Futures Trading Commission (CFTC), making it the new gatekeeper for crypto ETFs. Bloomberg analyst James Seyffart described the move as a “pseudo-outsourcing” of ETF approvals, as only assets with six months of futures trading on CFTC-approved platforms qualify.

Currently, Bitcoin, Ethereum, XRP, Solana, Cardano, Avalanche, Dogecoin, and several other high-profile tokens are positioned to meet these requirements. Notably, Solana ETPs face an October 10 approval deadline, while XRP and others trail closely behind.

With Coinbase Derivatives being the only crypto-focused member of the Information Sharing Group (ISG), it holds considerable influence over which digital assets meet ETF criteria, a fact that has raised questions about centralization and market fairness.

Institutional Demand and Regulatory Momentum

The ETF overhaul comes as crypto institutional demand skyrockets. Spot Bitcoin ETFs now manage over $151 billion, while Ethereum ETFs hold $21.5 billion. Corporate treasuries, too, have made bold moves: SharpLink Gaming now holds over 280,000 ETH, overtaking even the Ethereum Foundation.

The SEC also approved in-kind redemptions for ETFs and expanded Bitcoin ETF options limits, making the investment vehicles more tax-efficient and attractive to institutions. As of now, 72 ETF applications remain in the pipeline, with Bloomberg forecasting a 95% approval probability for XRP, Solana, and Litecoin before year-end.

As the U.S. positions itself at the forefront of the crypto revolution, this regulatory reset may unlock the next wave of institutional crypto adoption.