Crypto News: XRP, Solana, and Other ETFs Filed as Gary Gensler Exits the SEC

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Today marks the final full day for gary gensler information gary gensler Gary Gensler is a pioneer and the current chair of the U.S. Securities and Exchange Commission. He has extensive experience that spans Wall Street, government regulation, and an angel teaching about cryptocurrencies and blockchain at MIT. Gary S. Gensler was on born October 18, 1957, in Baltimore, Maryland.He graduated from Pikesville High School in 1975, where he was later given a Distinguished Alumnus award. He also earned a degree in economics.Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Markets from 1997 to 1999, then as Undersecretary for Domestic Finance from 1999 to 2001He has expressed his desire to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages. Chairman at the SEC, and as he exits, the ETF industry has been quick to respond with a wave of filings, including XRP and Solana Futures ETFs. Experts like Eric Balchunas from Bloomberg call it a major move, with the ETF industry making a strong statement as Gensler leaves the building.

Gensler wasn’t even out of the building for 5 minutes and the ETF industry unloaded a massive crypto filing frenzy. Half a dozen so far

Balchunas wrote.

Nate Geraci, president of The ETF Store, took to social media and shared a series of new ETF filings that have been made in the past 48 hours. These filings include the VanEck information VanEck - Cryptocurrency investment Onchain Economy ETF, the Canary Litecoin ETF (19b-4), the Oasis Capital Digital Asset Debt Strategy ETF, the CoinShares Digital Asset ETF, and the ProShares Leveraged & Inverse XRP ETFs. Additionally, ProShares has also filed for both XRP Futures and Solana Futures ETFs.

A Shift in Leadership and the SEC’s Crypto Stance

The filing frenzy comes as a shift in leadership is underway. With Gensler stepping down and Paul Atkins likely to step in, the industry is poised for change. Among the most significant filings are those for the XRP and Solana Futures ETFs. This is crucial because the SEC has historically approved futures ETFs before allowing spot market ETFs for assets like Bitcoin and Ethereum. The filing of these futures ETFs signals the possibility of eventual approval for spot ETFs, setting the stage for major moves in the market.

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Big Moves Ahead: A Bullish Outlook

With institutional investors pushing these filings forward, the stakes are high. These players, with their connections to Wall Street and Washington, have inside knowledge of regulatory changes and market trends, signaling that 2025 could be a game-changing year for crypto ETFs.