Solana, XRP, and Hedera (HBAR) ETFs have been spotted on the DTCC’s eligibility list, fueling speculation that SEC approval could be just around the corner.
Key Takeaways
- Fidelity and Canary Capital’s ETFs for Solana, XRP, and HBAR are now listed on DTCC’s platform, signaling technical readiness for potential launches.
- Bloomberg analysts assign high odds of SEC approval: 95% for Solana and XRP ETFs, and 90% for HBAR.
- The REX-Osprey Spot XRP ETF has already been cleared and will launch on September 12, boosting optimism for other altcoin products.
- Despite the excitement, experts caution that DTCC listings are procedural and not regulatory approval.
What Happened?
Crypto investors were energized this week after ETFs for Solana, XRP, and Hedera (HBAR) were quietly added to the Depository Trust & Clearing Corporation (DTCC) listing. These entries included Fidelity’s Solana ETF (FSOL), Canary’s XRP ETF (XRPC), and Hedera ETF (HBR). While these listings are not confirmations of regulatory approval, they represent a key step in ETF infrastructure setup and have sparked renewed hope for imminent SEC greenlights.
$SOL and $XRP ETF approval is much closer than you think.
— Cas Abbé (@cas_abbe) September 12, 2025
Today, DTCC listed Fidelity’s Solana and Canary’s XRP ETF.
For those who don’t remember, something similar happened in Q4 2023 before Bitcoin ETFs approval. pic.twitter.com/bmROvmRxbF
ETF Listings Appear on DTCC Platform
On September 11, Fidelity and Canary Capital took a major step forward by getting their altcoin ETFs listed on the DTCC’s NSCC eligibility file. This backend action helps clear the way for clearing and settlement processes that would be required if and when the SEC grants final approval.
- Fidelity’s Solana ETF (FSOL) was one of the most prominent additions.
- Canary’s XRP (XRPC) and Hedera (HBR) ETFs were also listed.
- These listings indicate technical preparedness, but not regulatory clearance.
As noted by Bloomberg ETF analyst Eric Balchunas, once a ticker appears on the DTCC’s platform, “it almost never disappears.” However, both he and ETF Store president Nate Geraci emphasized that the step is largely administrative.
Market Responds With Optimism
Prices for the three tokens surged on the news:
- HBAR jumped 25%, driven by ETF buzz and new stablecoin developments.
- Solana rose more than 6% in 24 hours, with a weekly gain of 15%.
- XRP crossed the $3.05 mark, with an 8% rise over the past week.
The overall crypto market cap also rebounded above $4 trillion, reflecting a broad wave of investor confidence.
REX-Osprey XRP ETF Launches First
In a closely related development, the REX-Osprey Spot XRP ETF is set to launch on September 12, 2025. This ETF has completed the SEC’s 75-day review period without objections and is approved under the Investment Company Act of 1940.
This makes it the first spot XRP ETF to hit the market, offering direct token exposure via standard brokerage platforms. The move is expected to accelerate momentum for other spot altcoin ETFs, including those from Franklin Templeton, Grayscale, and Bitwise, all of which have applications still under SEC review.
Approval Odds and Upcoming Deadlines
According to Bloomberg data:
- Solana and XRP ETFs have a 95% chance of approval
- HBAR ETF has a 90% chance
- XRP’s final decision deadline is November 14, 2025
- Solana and HBAR decisions are expected in October
Despite these high approval odds, recent delays in Ethereum staking ETFs and Canary’s earlier Litecoin ETF highlight the SEC’s cautious approach to altcoin-based financial products.
CoinLaw’s Takeaway
I’ve seen enough ETF cycles to know that a DTCC listing is never just noise. It signals that big players are getting systems in place for launch. Sure, it doesn’t guarantee anything from the SEC, but tickers rarely show up on DTCC just for fun. In my experience, when you see this much backend movement and analyst confidence lining up, it usually means the finish line is close.
What stands out to me most is how HBAR, which rarely gets spotlighted, is suddenly gaining major attention. I found the REX-Osprey launch especially telling, because if that goes smoothly, it sets a strong precedent for the rest. If you’re watching the crypto ETF space, the next two months are going to be massive.
