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

Today marks the final full day for gary gensler gary gensler Gary Gensler is the chairman of the U.S. Securities and Exchange Commission (SEC). His studies in finance and blockchain at MIT have helped him develop U.S. cryptocurrency regulations and policies. Quick Facts Full name Gary Scott Gensler Birth 18-10-1957, Baltimore, Maryland, United States Nationality American Education MBA from the University of Pennsylvania Marital status Married to Francesca Danieli (1986-2006) Net worth Estimated $100 million   Gensler has advocated for enhanced supervision of digital assets, seeking to regulate cryptocurrencies similar to securities. His work at the SEC has focused on safeguarding investors, regulating crypto exchanges, and establishing stablecoin policies.   Gary Gensler - Career Highlights 1997 – Became Assistant Secretary of the Treasury. 2009 – Led CFTC, regulating financial derivatives post-2008 crisis. 2018 – Taught blockchain and crypto at MIT. 2021 – Appointed SEC Chairman, focusing on crypto regulations. 2022 – Proposed stricter rules for crypto exchanges. 2023 – Took legal action against major crypto firms. 2024 – Advocated for stronger stablecoin and DeFi regulations.   Gary has collaborated with multiple lawmakers in formulating crypto policies. Even with disagreements with crypto investors regarding crypto policies, he continues to be a key player in the changing dynamic between regulatory frameworks and blockchain advancement.   Awards & Recognitions of Gary Gensler Year Institution  Description 2009 U.S. Treasury Financial Regulation Leader 2018 MIT Blockchain & Crypto Educator 2021 SEC SEC Chairman Overseeing Crypto Policies 2023 Bloomberg Most Influential Regulator in Crypto 2024 Forbes Top Policy Maker in Digital Assets   Useful Links to Connect With Gary Gensler Platform Link X (formerly Twitter) twitter.com/GaryGensler CFTC website Chairman Gary Gensler   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 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.

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