XRP, Solana, and other ETFs introduced with Gary Gensler’s exit from the SEC

Today marks Gary Gensler’s last full day at the SEC, and with his exit, the ETF industry was quick to respond with a flurry of filings, including XRP funds and Solana Futures ETFs. Experts like Eric Balchunas From Bloomberg called it a big move, with the ETF industry issuing a strong statement when Gensler left the building.

“Gensler wasn’t out of the building for 5 minutes before the ETF industry unloaded a massive cryptocurrency deposit frenzy. Six so far,” Balchunas wrote.

Nate Geraci, Head of ETF Shop, took to social media and shared a series of new ETF deposits made in the past 48 hours. These deposits include the VanEck 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. In addition, ProShares has also placed orders for both the XRP Futures and Solana Futures ETFs.

A Shift in the SEC’s Leadership and Crypto Stance

The scoring frenzy comes with a shift in leadership. With Gensler stepping down and Paul Atkins likely taking over, the industry is ripe for change. Among the most notable deposits are those of the XRP and Solana futures ETFs. This is critical because the SEC has Futures ETFs were historically approved before spot market ETFs were allowed for assets like Bitcoin and Ethereum. The filing of futures ETFs signals the possibility of final approval for spot ETFs, paving the way for major moves in the market.

Big Moves Ahead: Bullish Outlook

As institutional investors push these deposits forward, the risks are high. Through their ties to Wall Street and Washington, these players have inside knowledge of regulatory changes and market trends, suggesting that 2025 could be a game-changing year for cryptocurrency ETFs.