XRP, SOL, and DOGE ETFs Could See Faster Approval With SEC's New Task Force, Strategist Says

A new cryptocurrency task force led by U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has the potential to significantly accelerate the approval of crypto exchange-traded funds (ETFs) for assets like XRP, SOL, DOGE, and others. According to Matt Mena, a crypto research strategist at 21Shares, this move could be a game-changer for the regulatory landscape surrounding crypto ETFs.

Peirce, a well-known advocate for clearer and more innovation-friendly regulations in the crypto space, has long pushed for improved frameworks that would encourage the growth of digital asset investment products. Under her leadership, the task force aims to address key concerns such as asset classification, custody issues, and market integrity—factors that have slowed down the approval of crypto ETFs in the past.

Mena believes that the task force could pave the way for a faster approval process for a wider range of crypto ETFs, including those linked to assets like SOL, XRP, Litecoin (LTC), and Dogecoin (DOGE). He highlighted that one of the key goals of the task force would be to create structured disclosure frameworks, practical registration paths, and foster closer engagement between regulators and industry participants. This approach would enhance transparency and address regulatory concerns, similar to how the approval process for Bitcoin ETFs evolved.

A major point of focus for the task force would be clarifying whether assets like SOL and XRP should be classified as securities or commodities. By providing clarity on this issue, the task force could streamline the path to ETF inclusion for these digital assets. Furthermore, the team would likely work on developing standardized surveillance agreements to mitigate market manipulation risks and establish clear criteria for which cryptocurrencies are eligible for ETF inclusion.

If successful, this initiative could open up crypto ETFs to a broader pool of investors. Both institutional and retail investors, who have been limited in their options for investing in digital assets through familiar vehicles, would benefit from a more accessible and regulated investment structure. Just as Bitcoin ETFs have helped with price discovery and increased adoption of Bitcoin, the same could be expected for other cryptocurrencies, including XRP, SOL, and DOGE.

The SEC’s crypto task force could thus serve as a catalyst for bringing cryptocurrencies further into the mainstream financial ecosystem, potentially unlocking new capital flows and fostering innovation in the space. With regulatory clarity on the horizon, the path for broader crypto market integration looks promising.