- Three major crypto ETFs from Fidelity and Canary Capital have entered the DTCC clearing system.
- The XRP ETF has the nearest deadline on October 19, while the Solana and Hedera ETFs face decisions in November.
Three cryptocurrency exchange-traded funds have appeared on the Depository Trust & Clearing Corporation’s National Securities Clearing Corporation list. The listings contain Fidelity’s Solana ETF, under ticker symbol FSOL, Canary Capital’s XRP ETF under ticker XRPC, and Canary’s Hedera ETF, which trades under the symbol of HBR.
The emergence of DTCC listings is a major operational milestone for fund issuers. Although DTCC onboarding does not warrant SEC approval, it is an important step in the workforce before launching in the market.
In the clearing corporation, the coordination is made between fund managers and clearing companies. Such infrastructure is mandatory once regulatory approval is acknowledged. Fund companies usually gain access to DTCC to facilitate the transition from approval to active trading.
DTCC Listing Signals Growing Approval Confidence
ETF analyst Eric Balchunas commented on the relevance of such listings. He observed that joining the DTCC system greatly increases the chances of getting an eventual SEC approval. Balchunas referred to the historical statistics, according to which not very many tickers introduced into the system fail to launch successfully.
Agree, nothing to see here. that said how many tickers are added that never launched probably almost none
— Eric Balchunas (@EricBalchunas) September 11, 2025
The analyst’s opinion carries weight given his track record analyzing ETF approval patterns. According to his assessment, these three funds have reached beyond initial filing phases to the operational preparation phases.
The move into the Solana ETF by Fidelity suggests notable growth by the investment giant. The company operates one of the actively traded Bitcoin spot ETFs in the United States. Fidelity’s history of managing cryptocurrency ETFs makes it a formidable competitor in the Solana space.
The Solana blockchain has experienced significant growth in developer activity and transaction volume. Nevertheless, the network has experienced challenges, such as periodic outages that temporarily shut down operations. Despite these technical obstacles, institutional interest in Solana continues to grow.
Regulatory Timeline Creates Pressure for Swift Decisions
The SEC is under pressure to approve an increasing number of applications for cryptocurrency ETFs. Several filings approach their statutory decision dates in the next several months. This tightened schedule might force the commission to accelerate its reviews.
In a recent update, we covered, the SEC set November 14, 2025, as the final deadline for the Franklin spot XRP ETF decision. Fidelity’s Solana ETF application has a deadline of November 14. Canary Hedera ETF has the same timeline with a cutoff date of November 12. These time limits give the SEC around two months to make final decisions.
The XRP ETF proposal is the closest. Canary’s XRP ETF application has a deadline of October 19 after the latest extensions. The same delay happened with the 21Shares Core XRP Trust to the mid-October deadline.
An important warning of long regulatory review periods can be seen in the Canary’s Litecoin ETF. This fund has been listed on DTCC since February without SEC approval. The prolonged timeline shows that clearing system access does not guarantee swift regulatory action.
