This regulatory decision could change crypto forever

The crypto industry may be on the verge of another change with potentially wide-reaching consequences by the end of 2025 and beyond.

Namely, the U.S. Securities and Exchange Commission (SEC) is preparing to make its final decisions on no less than 16 cryptocurrency exchange-traded funds (ETFs) in October.

These proposed applications span a range of major altcoins, including Solana (SOL), Dogecoin (DOGE), and Cardano (ADA). 

The first decision deadline is October 2 for Canary’s Litecoin (LTE) ETF, followed by Grayscale’s Solana and Litecoin trust conversions on October 10, and finally WisdomTree’s XRP fund on October 24. 

However, the approvals could come at any time before these deadlines, as noted by NovaDius Wealth Management president Nate Geraci, who expects “enormous next few weeks for spot crypto ETFs.”

Is another altcoin rally coming?

The SEC has delayed multiple decisions this year, but it has also made some moves to streamline approval timelines as it adopted a more crypto-friendly approach.

For example, on September 17, the agency approved a new listing standard for commodity-based trust shares, potentially shortening the process for future spot crypto ETFs. 

If Geraci’s words come true, sudden new fund approvals could spark a new altcoin rally following increased retail participation. Right now, the market appears most interested in the six XRP applications, as the odds of approval on crypto-focused betting platform Polymarket have skyrocketed to over 99%.

Ripple ETF approval chance. Source: Polymarket

Recent whale activity is also addding to the optimism, as 120 million tokens have been soaked up by large-scale investors over the past 72 hours. This suggests the token’s recent pullback, which caused a notable XRP market value drop this month, is about to reverse now that whales have bought the dip.

Finally, Ripple’s application for a national bank charter is also under review by the Office of the Comptroller of the Currency (OCC), with a decision expected in October. Approval here would likewise enable XRP Ledger to expand its services to institutional clients and provide regulatory clarity, further strengthening its position in the U.S. financial system and adding steam to potential ETFs.

Featured image via Shutterstock

Source: https://finbold.com/this-regulatory-decision-could-change-crypto-forever/