The prospects of the SEC approving the Solana ETF spot arouse excitement, although analysts plan a long journey in advance.
Despite the chances of favorable for the American Securities and Exchange (SEC) commission approving the negotiated funds on the stock market (ETF) based in Solana, analysts consider that their beginnings are uncertain. ETF analysts attribute the potential delay of the pending regulatory examination, pending implementing measures and public comments on deposits. As such, the Gurus ETF consider that several questions could change for Solana’s hopes before the ETFs start to exchange.
Bloomberg’s FNB analyst Eric Balchunas reflects on recent development because the regulator has not emitted an outright rejection to applications. The declaration by Senior ETF analysts emerges while the SEC reported the start to weigh the Deposits of ETF Solana this week. The Watchdog of Securities could reproduce the incidents passed to extend the deadline for revision until mid-October than to approve others based on cryptography.
The beginnings of the Solana ETF will expand access to products focused on crypto assets about to reproduce the success of Bitcoin Etf ETF since their approval in January 2024. Market observers have been both the bitcoin and Etfs spot and Etfs Ethes attracting cash flows of $ 1 billion from the traditional financial (tradfi) institutions. This resulted in a wave that sent digital asset markets up.
The Solana ETF spot has drawn the attention of several asset managers, including Vaneck, Canary Capital, 21Shares, Grayscale and Bitwise. Balchunas projects A dimension of 70% for the approval of ETF Sol this year.
Meanwhile, the Crypto Polymarket prediction platform considers 84% of dry green seer at SOL ETF on December 31. However, the exact moment of approval is a mystery.
Although the dry under the interim president Mark Uyeda adopts a friendly crypto position, Balchunas admits uncertainty about how the approval process will take place. Previously, the SEC had while Gary Gensler’s mandate delayed the decision on Bitcoin Bitcoin FNB until the court intervened to reign in favor of gray levels.
Balchunas adds that a decision not to kick the decision three times would be a refreshing signal. He is optimistic of a shorter approval time unlike the mandate of peopleler.
Balchunas is optimistic about Solana ETF approval in the coming weeks, but recognizes that several specific things deserve to be examined.
Proceedings and declarations
Balchunas indicates that when the SEC provides comments on the changes in the proposed rules captured in the 19B-4 deposits would create a momentum for the ETF Solana with an imminent point. Such declarations suggest that the SEC is materially engaged with asset managers.
The Senior ETF analyst at Bloomberg considers an indication of the meeting of asset managers with the SEC team as optimistic, in particular to answer questions about ETF Sol. However, he considers the application measures that the dry initiated in the past is worth monitoring. In particular, the analyst cites the trial in 2023 oriented against Coinbase as critic, given the mention of Solana as security.
The SEC trial against Coinbase is currently interrupted following the New York judge to grant the request in exchange for crypto against the interlocutory appeal. Contradictory decisions on how to apply laws on digital assets have caused the green light to higher judicial intervention.
Balchunas observed that a retirement from the SEC of the legal struggle with the Coinbase led by Brian Armstrong and the abolition of Solana’s claims would create the good sign towards the approval of the momentum.
Trump’s candidate for the president of the dry, Paul Atkins, is a probable factor, especially in his next hearing in the Senate. A declaration linked to the approval of the FNB focused on the crypto would create a positive signal.
Is Solana ETF in the bag?
The user -friendly approach to the Crypto of the Trump administration convinces certain analysts to consider the conditions for the approval of Solana ETFs have already been met. The Bitwise investment strategist, Juan Leon, has excluded that the conclusion of Solana Etf is in the bag, although recognized the change of Turne in dry.
Previously, the SEC cited fraud and the potential for manipulation of the market to reject the Bitcoin Spot ETF. Nevertheless, the legal victory in gray levels in 2023 complicated the approval of the FNB Bitcoin Spot at the beginning of last year.
The Washington DC Court of Appeal judged that the refusal of gray level demand to convert the fiduciary fund to ETF Spot was both arbitrary and capricious. The judges observed that the agency had already given a green light to the FNB Bitcoin Futures and that the existence of the regulated term contract market responded to fraud and manipulation problems.
Such conditions reflect the development of this week where Coinbase derivatives have unveiled the Future Solana contracts under the US commission of Commmidity Trading (CFTC). Leon considers that with this in place, the dry could ultimately abandon the regulated consideration on the term markets, because the Coinbase movement probably has given the same effect. This increased the chances that the dry approves Solana Etf.
