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Is a Solana ETF Approval Closer: Experts Weigh In
The post Is a Solana ETF Approval Closer: Experts Weigh In appeared on BitcoinEthereumNews.com. The prospects of the SEC approving spot Solana ETF is sparking excitement though analysts project a lengthy journey ahead. Despite the favorable odds for the US Securities and Exchange Commission (SEC) approving the Solana-based exchange-traded funds (ETFs), analysts consider their debut is uncertain. The ETF analysts attribute potential delay from pending regulatory review, pending enforcement actions and the public commentary on the filings. As such, the ETF gurus consider several matters could change for Solana hopefuls before the ETFs start trading. Bloomberg’s ETF analyst Eric Balchunas reflects on the recent development as the regulator failed to issue an outright rejection to the applications. The pronouncement by the senior ETF analysts emerge as the SEC signaled the start to weigh filings for Solana ETFs this week. The securities watchdog could replicate past incidents to extend the review deadline to as late as mid-October as witnessed in approving other crypto-based. The Solana ETFs debut will broaden access to the crypto asset-focused products poised to replicate the spot Bitcoin ETFs success since their approval in Jan 2024. Market observers point towards both spot Bitcoin and Ethereum ETFs attracting billion-dollar cashflow from the traditional financial (TradFi) institutions. This translated to a wave that sent the digital asset markets upward. The spot Solana ETFs has grabbed the attention of several asset managers including VanEck, Canary Capital, 21Shares, Grayscale and Bitwise. Balchunas projects a 70% odds for SOL ETFs approval this year. Meanwhile, crypto prediction platform Polymarket considers 84% chance of SEC green light to SOL ETFs by Dec 31. However, the exact timing for the approval is a mystery. Although the SEC under interim-chair Mark Uyeda embraces a crypto-friendly stance, Balchunas admits uncertainty in how the approval process will unfold. Previously, the SEC had during Gary Gensler tenure delayed decision on the spot Bitcoin ETFs…
The post Is a Solana ETF Approval Closer: Experts Weigh In appeared on BitcoinEthereumNews.com.
The prospects of the SEC approving spot Solana ETF is sparking excitement though analysts project a lengthy journey ahead. Despite the favorable odds for the US Securities and Exchange Commission (SEC) approving the Solana-based exchange-traded funds (ETFs), analysts consider their debut is uncertain. The ETF analysts attribute potential delay from pending regulatory review, pending enforcement actions and the public commentary on the filings. As such, the ETF gurus consider several matters could change for Solana hopefuls before the ETFs start trading. Bloomberg’s ETF analyst Eric Balchunas reflects on the recent development as the regulator failed to issue an outright rejection to the applications. The pronouncement by the senior ETF analysts emerge as the SEC signaled the start to weigh filings for Solana ETFs this week. The securities watchdog could replicate past incidents to extend the review deadline to as late as mid-October as witnessed in approving other crypto-based. The Solana ETFs debut will broaden access to the crypto asset-focused products poised to replicate the spot Bitcoin ETFs success since their approval in Jan 2024. Market observers point towards both spot Bitcoin and Ethereum ETFs attracting billion-dollar cashflow from the traditional financial (TradFi) institutions. This translated to a wave that sent the digital asset markets upward. The spot Solana ETFs has grabbed the attention of several asset managers including VanEck, Canary Capital, 21Shares, Grayscale and Bitwise. Balchunas projects a 70% odds for SOL ETFs approval this year. Meanwhile, crypto prediction platform Polymarket considers 84% chance of SEC green light to SOL ETFs by Dec 31. However, the exact timing for the approval is a mystery. Although the SEC under interim-chair Mark Uyeda embraces a crypto-friendly stance, Balchunas admits uncertainty in how the approval process will unfold. Previously, the SEC had during Gary Gensler tenure delayed decision on the spot Bitcoin ETFs…
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