Optimism is growing around the approval of a Solana ETF, as regulatory and crypto market dynamics shift in favor of digital asset products. Recently, exchange Cboe BZX filed four applications for Solana spot ETFs, with proposals from VanEck, 21Shares, Bitwise Asset Management and Canary Capital.
Growing optimism for approval of a Solana ETF
James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that these requests represent a significant step forward for the Solana ETF. If the SEC accepts these requests, the final decision could be made by August 2025. Nate Geraci, president of the ETF Store, expressed optimism about these developments, saying that it is very likely that Solana ETFs will be approved by the end of next year.
Optimism is also fueled by the announced resignation of SEC Chairman Gary Gensler, effective January 20, 2025. This news has sparked speculation about a more favorable climate for crypto innovation. Eleanor Terrett of Fox Business recently shared that discussions between SEC staff and issuers seeking to launch a Solana ETF are progressing, with a good chance of seeing Form 19b-4 filings.
Matthew Sigel, head of crypto asset research at VanEck, is also optimistic about the Solana ETF's timeline, stating that there is a good chance a Solana ETF will be in circulation by the end of the year. next year. Geoffrey Kendrick, global head of digital assets research at Standard Chartered, also indicated that approval of a Solana ETF is more likely under a Trump administration.
Additionally, the approval in Canada and Brazil of the Solana ETF could put pressure on the US government. As Ryan Lee, chief analyst at Bitget, points out:
Solana ETFs have been approved in markets including Brazil and Canada, which could indicate growing acceptance of Solana as an investment vehicle. This global trend could indirectly put pressure on or encourage American regulators.
Crypto: Solana (SOL) reaches a new ATH!
SOL price recently hit a new all-time high, trading at $264.31 with an 18% increase over the past week. This solid performance in 2024, with an increase of 160% since the start of the year, reinforces Solana's appeal for crypto investors.
In sum, while approval of a Solana ETF is not guaranteed, recent developments and growing optimism among crypto market participants suggest that 2025 could be a breakthrough year for this innovative financial product.
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