The U.S. Securities and Trade Fee (SEC) has acknowledged a current Solana ETF utility proposed by Canary Capital.
This comes after the SEC additionally acknowledged Grayscale’s Solana ETF submitting earlier this month.
Franklin Templeton has additionally registered a brand new Delaware entity, which signifies that it’s doubtless making ready to hitch the Solana ETF race within the close to future.
As reported by U.In the present day, VanEck was the primary to suggest a Solana ETF again in June. Since then, a number of different issuers have adopted go well with.
Bloomberg analysts at present see a 70% probability of such a product being authorized. Final December, the SEC avoided approving Solana ETF filings. Nevertheless, the trade is hopeful that the brand new administration can be extra open to the concept of approving extra altcoin ETFs after greenlighting spot Ether ETFs final summer time.
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As reported by U.In the present day, BlackRock, the largest ETF participant, has acknowledged that it could not discover a Solana ETF.
The unsure regulatory standing of the SOL token seems to be the primary hindrance on the street to approval. It’s value noting that the token was repeatedly named as a safety in a number of SEC lawsuits.
The SOL worth is at present down 3.1% regardless of the latest acknowledgment.