SEC Clears XRP and Solana as Digital Commodities, Boosting Crypto Market

The US Securities and Exchange Commission (SEC) has approved XRP and Solana as digital commodities, alongside Bitcoin and Ether. This regulatory clarity has sparked a significant shift in the crypto market, with a $566.9 million short squeeze that liquidated over 105,000 traders in 24 hours.

The SEC's Order No. 34-106268 allows actively managed crypto ETFs to hold up to 15% of their assets in these coins. This move has boosted the crypto market cap to a record $2.711 trillion and spurred institutional interest in Bitcoin and Ethereum ETFs, which have seen significant inflows.

Meanwhile, privacy coin Zcash jumped 20% amid concerns over AI-related privacy issues. The market is now looking ahead to the Senate's CLARITY Act vote on September 15, which could further solidify crypto regulation and potentially impact the price of XRP and other digital assets.