PANews reported on February 7 that according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) took the first step on Thursday to allow the launch of new cryptocurrency ETFs that track the prices of assets such as Litecoin and Solana, while also approving a new way to redeem funds from existing cryptocurrency ETFs. At the same time, several companies have also made progress in launching XRP ETFs, further demonstrating that the U.S. SEC is more friendly to cryptocurrencies under the country's new government.

Earlier on Thursday, the SEC confirmed Grayscale's Solana (SOL) ETF application, meaning the commission now has until October to approve or reject the application. The SEC also confirmed a series of other cryptocurrency ETF-related applications on Thursday, including Grayscale's Litecoin (LTC) ETF application and BlackRock's proposal to allow physical creation and redemption of the iShares Bitcoin ETF. In the U.S. evening session, Cboe submitted applications for listing and trading of four ETFs designed to track the price of XRP. The exchange submitted four 19b-4 filings to the SEC on Thursday for potential ETFs from Bitwise, 21Shares, Canary Capital, and WisdomTree. All four issuers had previously filed S-1 filings, the first step in bringing an ETF to market.

While Thursday’s actions don’t necessarily guarantee that the SEC will approve all of these products, they do suggest that under current SEC management, these firms feel more comfortable expanding ETF products beyond bitcoin and ether.