TL;DR
- The SEC has opened its review of two spot ETFs for XRP and Solana proposed by Franklin Templeton, with a decision expected by July 2025.
- On-chain data shows rising XRP network activity as investors adjust positions in anticipation of possible approval.
- Solana is trading at $146 and XRP at $2.15, with daily declines but steady quarterly gains, driven by expectations surrounding these ETFs.
The U.S. Securities and Exchange Commission has formally begun reviewing two spot ETF proposals tied to different cryptocurrencies.
These funds, based on XRP and Solana, are backed by Franklin Templeton, one of the largest asset managers in the crypto ETF market. The agency launched a public comment period and plans to decide its position by July 2025, although that deadline could be extended depending on how consultations progress.
The possibility of these ETFs receiving approval has stirred expectations in the market. Investors and traders believe a positive decision would have an immediate impact on the trading volume and price of both XRP and Solana, following the pattern seen with spot Bitcoin funds. On-chain data shows increased activity on the XRP network, indicating that investors appear to be positioning themselves ahead of potential announcements.
Franklin Templeton Moves to Anticipate Market Demand
Franklin Templeton aims to expand its lineup of regulated investment products backed by crypto assets, convinced that institutional interest will continue to grow. The firm stated that the decision to file for these funds responds to market demand for investment tools that combine digital assets with regulatory compliance. If the SEC grants approval, it could open the door for similar applications for other tokens, reshaping how altcoins gain broader market access.
At the time of writing, Solana is priced at $146, with a market capitalization of $77 billion. Over the past 24 hours, its trading volume dropped by 11%. Despite this short-term dip, it has gained 6.22% over the past 60 days and 10.18% over the quarter.
Meanwhile, XRP is trading at $2.15 per unit. It’s down 2.7% over the last 24 hours, with a 30% drop in volume, although it still exceeded $3.3 billion in daily activity and holds a market cap above $126 billion.
Accelerating Institutional Adoption
Industry analysts agree that if Franklin Templeton’s products are approved, it would affect not just token prices but also accelerate crypto adoption among institutional managers and traditional funds. At the same time, they note the environment remains shaped by regulatory caution and the challenge of setting consistent industry standards
