Three spot cryptocurrency ETFs for Solana, Hedera, and XRP, issued by Fidelity Investments and Canary Capital, have been added to the Depository Trust & Clearing Corporation’s (DTCC) National Securities Clearing Corporation list as they await regulatory approval for a potential launch.
On September 11, DTCC updated its listing to include Fidelity’s Solana ETF under the ticker FSOL, Canary’s XRP ETF as XRPC, and Canary’s Hedera ETF as HBR, marking them as eligible for clearing and settlement.
Are the Solana, Hedera, and XRP ETFs Approved?
For those unfamiliar, the Depository Trust & Clearing Corporation (DTCC) is a major U.S. clearing and settlement provider that handles post-trade operations for ETF products. However, listing on the DTCC does not equate to government approval, and an ETF cannot legally begin trading in the U.S. without the Securities and Exchange Commission (SEC) green light.
Being added to the DTCC is an important step toward launch, but final approval still rests with the SEC. For example, Canary’s proposed Litecoin spot ETF was added to the DTCC list in February but has yet to receive regulatory approval.
Bloomberg ETF analyst Eric Balchunas noted that while a DTCC listing isn’t a guarantee, historical trends show that most tickers added to the system eventually make it to market. “Agree, nothing to see here,” Balchunas wrote on X (formerly Twitter) on September 12, adding, “how many tickers are added that never launched? Probably almost none.”
SEC Delays on ETF Decisions
Since the start of 2025, the SEC has postponed decisions on Solana, Hedera, and XRP ETFs, along with several other altcoin ETF proposals, citing the need for additional review.
- Canary’s XRP ETF decision has been delayed to October 18–23.
- Canary’s HBAR ETF decision has been pushed to November.
- Fidelity’s Solana ETF decision has been extended into October.
Despite the delays, the outlook remains positive. With pro-crypto leadership now at the SEC, many analysts expect approval for altcoin ETFs. According to Balchunas and fellow Bloomberg analyst James Seyffart, the likelihood of approval stands at:
- Solana ETF: 95%
- XRP ETF: 95%
- Hedera ETF: 90%
Market Response and Investor Interest
Following the DTCC listing, all three tokens were trading higher, with SOL leading at over 7% gains in the past 24 hours, followed by HBAR at 3.63% and XRP at 1.88%.
ETF analyst Nate Geraci emphasized the potential demand, stating on X earlier this month:
“People are severely underestimating investor demand for spot XRP & SOL ETFs.”
Once approved, these altcoin ETFs, particularly those tied to Solana and XRP, could attract significant investor interest.
