Key Points:
Read more: Second Spot Solana ETF Approved in Brazil
Earlier, Bitwise Asset Management filed a trust for a spot Solana ETF in Delaware on November 21, marking another key development in the space. Industry leaders had previously expressed optimism regarding the likelihood of approval for spot Solana ETFs, reported The Block. According to ETF Store President Nate Geraci:
“I believe it’s highly likely that Solana ETFs will be approved by the end of next year at the latest.”
Among the proposals were four Solana ETF applications from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital filed with equity exchange Cboe BZX on Thursday. This comes at a time when the U.S. Securities and Exchange Commission has actively started reviewing the S-1 applications, showing signs of development in regulatory territory.
While encouraging signs have been given for the spot Solana ETF, it is not without its issues. In August, the commission urged the Solana ETF proposals to be withdrawn for being sceptical of the classification of Solana as a security and not a futures-based ETF.
However, analysts said the re-election of the more crypto-friendly President Donald Trump may lead to regulatory changes that result in faster ETF approvals. Approving Solana ETFs may result in relatively smaller inflows as compared to the Bitcoin and Ether ETFs. The SEC may make the final decision by August 2025, according to Bloomberg Intelligence analyst James Seyffart.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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