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    Home»Altcoins»SEC Acknowledges Grayscale’s Solana ETF Submitting, Hinting at Potential Regulatory Sea Change – The Day by day Hodl
    SEC Acknowledges Grayscale’s Solana ETF Submitting, Hinting at Potential Regulatory Sea Change – The Day by day Hodl
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    SEC Acknowledges Grayscale’s Solana ETF Submitting, Hinting at Potential Regulatory Sea Change – The Day by day Hodl

    By Crypto EditorFebruary 8, 2025No Comments3 Mins Read
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    The U.S. Securities and Change Fee (SEC) is acknowledging crypto asset administration agency Grayscale’s bid to create an exchange-traded fund (ETF) for the good contract platform Solana (SOL).

    In a brand new thread on the social media platform X, Bloomberg ETF analyst James Seyffart says the SEC formally acknowledging the bid is noteworthy as a result of the regulatory company had beforehand rejected it.

    “UPDATE: SEC simply acknowledged the Grayscale Solana 19b-4. That is really newsworthy as a result of the SEC had refused to do that in current submitting makes an attempt for SOL.”

    ETFs enable merchants to show themselves to belongings similar to valuable metals and crypto with out having to really buy them. The SEC accepted Bitcoin (BTC) and Ethereum (ETH)-based ETFs in 2024.

    In accordance with senior Bloomberg ETF analyst Eric Balchunas, the acknowledgment is a small step in the proper path because the SEC beneath former Chair Gary Gensler instructed the Chicago Board Choices Change (CBOE) to withdraw its utility for a Solana ETF.

    “Notable as a result of that is the primary time an ETF submitting monitoring a coin that had beforehand been known as a ‘safety’ has been acknowledged by [the] SEC.

    Solely six weeks in the past the [Gensler]-led SEC informed CBOE to withdraw their Solana 19b-4. So we at the moment are in new territory, albeit only a child step, however seemingly the direct results of management change.”

    In December, the SEC shot down all SOL-based ETF purposes earlier than Gensler resigned from his place previous to the inauguration of President Donald Trump. On the time, Balchunas predicted the companies would reapply after the regime change.

    Seyffart goes on to notice the SEC altering its tune on Solana would possibly fare nicely for crypto companies dealing with lawsuits the place the regulatory physique claims SOL qualifies as a “safety.”

    The ultimate deadline for Grayscale’s utility could be round October eleventh, in line with Seyffart.

    Solana is buying and selling for $193.37 at time of writing, a 1.3% improve over the past 24 hours.

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    SEC Acknowledges Grayscale’s Solana ETF Submitting, Hinting at Potential Regulatory Sea Change – The Day by day Hodl

    Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any losses you could incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in internet affiliate marketing.

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