Why Solana, Not XRP, Just Won The Spot ETF Race, Multicoin’s Counsel Explains

Bitcoinist•Tuesday, October 28, 2025 at 1:00:05 PM

Solana has successfully cleared the way to launch a spot ETF in the US, while XRP remains sidelined. This development is significant as it highlights the importance of mechanics over market cap or political factors in the ETF approval process. Multicoin Capital's general counsel, Greg Xethalis, provided insights into the necessary criteria for issuers, emphasizing that Solana's strategic positioning has given it a competitive edge. This move could potentially reshape the landscape for cryptocurrency investments and pave the way for more innovative financial products.

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