BREAKING: Hashdex Secures SEC Approval to Expand ETF with XRP and Solana Exposure

Wall Street's crypto embrace accelerates as Hashdex scores regulatory victory.

REGULATORY MILESTONE

The SEC greenlights Hashdex's expanded ETF proposal—marking the first official US regulatory endorsement for XRP and Solana investment products. This decision bypasses years of regulatory hesitation and cuts through the legal ambiguity surrounding both assets.

MARKET IMPLICATIONS

Traditional finance gates swing open for two major altcoins that previously operated in regulatory gray areas. Institutional money now gets a clear path to exposure without the custody headaches that kept many funds on the sidelines.

STRATEGIC POSITIONING

Hashdex outmaneuvers larger competitors by securing first-mover advantage in the altcoin ETF space. The move pressures other asset managers to accelerate their own crypto diversification strategies—or risk getting left behind as digital asset adoption accelerates.

Because nothing motivates regulatory clarity quite like the scent of fresh management fees.

Faster approvals set stage for October launch

The approval follows the SEC’s recent adoption of new listing rules designed to accelerate the approval process for crypto ETFs. Previously, ETF applications could languish for up to 270 days under case-by-case reviews. Now, qualifying products can receive clearance within 75 days.

This change is triggering a wave of activity, said Steven McClurg, Founder of Canary Capital Group, noting that around a dozen filings are already in with the SEC. Jonathan Groth of DGIM Law expects a “boom time” for crypto ETFs in Q4 2025, while Bitwise President Teddy Fusaro said most applications are nearing the end of their review phase. Analysts predict that ETFs tracking SOL and XRP could debut as early as October.

New rules simplify path for crypto ETFs

Under the revised framework, ETFs must meet at least one of three criteria to qualify for the streamlined process: the underlying asset must trade on a regulated exchange, have CFTC-regulated futures contracts active for at least six months, or be held by another ETF with at least 40% direct allocation.

However, not all issuers are ready. “Not all of our existing filings qualify,” admitted Kyle DaCruz, Head of Digital Assets at VanEck, adding that legal reviews are underway to determine which products can proceed.

With XRP, SOL, and XLM now included, Hashdex’s NCIQ ETF marks a major step toward broader crypto exposure in regulated markets and signals the start of what could be the biggest wave of crypto ETF launches yet.

Also Read: SEC Clears Grayscale’s ETH ETFs Under New Generic Rules