Trump’s presidential win has increased the likelihood of Solana and XRP ETFs being approved in the US market. However, while Solana ETFs seem likely to be approved, XRP ETFs face more obstacles, mainly due to uncertainty surrounding the token’s utility and purpose in the digital economy. The US Securities and Exchange Commission has received numerous ETF applications in 2024, including proposals for spot Solana-Litecoin and XRP ETFs.
The Solana ETF stands out due to its strong appeal among institutional investors and a straightforward market narrative, which could boost its chances of approval. Trump’s advocacy for digital assets marks a shift from his previous skepticism, but the extent of his influence over the SEC remains unclear.
