Market updates
SEC Takes Key Step Toward Approving Solana, Litecoin, and XRP ETFs
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2025-02-07 | 5m
The U.S. Securities and Exchange Commission (SEC) acknowledged multiple crypto-related ETF applications, marking a potential shift in regulatory stance. The SEC formally recognized Grayscale’s applications for Solana (SOL) and Litecoin (LTC) ETFs and BlackRock’s proposal for in-kind creations and redemptions on its iShares Bitcoin ETF. Additionally, Cboe filed 19b-4 documents to list and trade XRP ETFs from Bitwise, 21Shares, Canary Capital, and WisdomTree.
This move is significant because it signals that the SEC may be more open to approving ETFs beyond Bitcoin and Ethereum, particularly for assets previously classified as securities. Bloomberg ETF analyst Eric Balchunas called this a “notable” development, suggesting it reflects a leadership-driven shift at the SEC.
While the acknowledgment does not guarantee approval, it ties the SEC to a strict timeline for decisions. Companies now appear more confident in launching ETFs for a broader range of cryptocurrencies under the agency’s current administration. The SEC has until October to approve or deny Grayscale’s Solana ETF, highlighting the evolving regulatory landscape for digital asset investment products
Source:
CoinDesk
Futures Market Updates
In the past 24 hours, BTC futures saw a slight decrease in open interest by 0.43%, while ETH futures experienced a more significant drop of 5.89%. BTC's trading volume rose by 13.86%, significantly outperforming ETH, which saw a decline of 12.40% in volume. Liquidations for both assets favored shorts, with BTC liquidating $29.27M in shorts compared to ETH's $29.90M. The long/short ratios were nearly even for BTC, while ETH saw a slightly higher short position at 51.36%. Additionally, BTC's funding rate was higher at 0.0054%, compared to ETH's 0.0006%.
BTC Futures Updates
Total BTC Open Interest: $59.00B (-0.43%)
BTC Volume (24H): $73.32B (+13.86%)
BTC Liquidations (24H): $5.42M (Long)/$29.27M (Short)
Long/Short Ratio: 49.71%/50.29%
Funding Rate: 0.0054%
Ether Futures Updates
Total ETH Open Interest: $23.42B (-5.89%)
ETH Volume (24H): $40.85B (-12.40%)
ETH Liquidations (24H): $1.97M (Long)/$29.90M (Short)
Long/Short Ratio: 48.64%/51.36%
Funding Rate: 0.0006%
Top 3 OI Surges
GEMS: $641.60K (+147.28%)
FORTH: $5.47M (+124.64%)
VR: $2.24M (+114.35%)
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