Promising Developments for Solana ETFs as SEC Reviews Filings
The U.S. Securities and Exchange Commission (SEC) appears to be progressing in discussions regarding Solana (SOL) spot exchange-traded funds (ETFs).
According to Fox Business reporter Eleanor Terrett, the agency is engaging with issuers on S-1 applications, with expectations that critical 19b-4 filings, necessary for listing the ETFs, may soon be submitted. Prominent asset managers such as Vaneck, 21Shares, Canary Funds, and Bitwise have expressed interest, signaling a renewed push for approval in the evolving regulatory landscape.
This optimism follows the SEC’s approval of spot Bitcoin ETFs earlier this year and Ethereum ETFs in July, marking significant milestones for digital asset integration into traditional finance. Speculation around SEC Chair Gary Gensler’s potential departure under a new administration further fuels hopes for a more crypto-friendly regulatory environment. These developments suggest Solana ETFs could see approval as early as 2025, reflecting a potential shift in the agency’s stance on cryptocurrency products.
Clever Robot News Desk 22nd November 2024
