Optimism Grows for Solana ETF Approval Amidst Changing Market Dynamics
The post Optimism Grows for Solana ETF Approval Amidst Changing Market Dynamics appeared first on Coinpedia Fintech News
As the regulatory and market dynamics change in favor of digital asset products, the launch of a Solana ETF soon seems to be on the horizon.
Equity exchange Cboe BZX on Thursday filed four applications for spot Solana ETFs, with proposals from VanEck, 21Shares, Bitwise Asset Management and Canary Capital. Bloomberg Intelligence ETF analyst James Seyffart noted that, the applications are a significant step forward for the Solana ETF and noted that if the SEC accepts the applications, the final deadline for a decision could be around early August 2025.
UPDATE: We have Solana ETF 19b-4 filings. This one is for @BitwiseInvest. Final deadline on this — if the SEC acknowledges it — will be around early August. pic.twitter.com/Jx5MJ9bWOG
— James Seyffart (@JSeyff) November 21, 2024 SOL ETF Approval Highly Likely: Nate GeraciNotably, the ETF Store President Nate Geraci voiced optimism about these developments, saying, “It appears that the SEC is engaging with issuers regarding this product, which is a positive sign.” He believes that it’s highly likely that Solana ETFs will be approved by the end of next year at the latest.
The optimism around Trump coupled with the news of the resignation of SEC Chairman Gary Gensler effective January 20, 2025, has fueled speculation of a more supportive climate for digital asset innovation.
Recently, Fox Business’ Eleanor Terrett in a recent X post shared that talks between SEC staff and issuers looking to launch a SOL spot ETF are “progressing” with the SEC now engaging on S-1 applications.
