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    Home»Altcoins»Solana ETFs Edge Nearer as SEC Engages with Main Filings – BlockNews.com
    Solana ETFs Edge Nearer as SEC Engages with Main Filings – BlockNews.com
    Altcoins

    Solana ETFs Edge Nearer as SEC Engages with Main Filings – BlockNews.com

    By Crypto EditorFebruary 12, 2025No Comments3 Mins Read
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    • The SEC acknowledged a number of Solana ETF filings, signaling progress for altcoin-based monetary merchandise.
    • Bloomberg analysts estimate a 70% likelihood of Solana ETF approval beneath the crypto-friendly U.S. administration.
    • A key hurdle stays whether or not the SEC classifies Solana as a commodity or a safety, which may influence approval.

    The U.S. Securities and Alternate Fee (SEC) simply took one other step towards bringing Solana-based exchange-traded merchandise (ETPs) to market. On Tuesday, the regulator formally acknowledged a number of filings for spot Solana ETFs, an indication that momentum round altcoin-based monetary devices is choosing up.

    Cboe BZX Alternate submitted rule change proposals to listing and commerce spot Solana ETFs from a number of issuers—21Shares, Bitwise, Canary Capital, and VanEck. If this sounds acquainted, that’s as a result of it mirrors the identical course of that performed out when companies had been pushing for spot Bitcoin ETFs.

    Tuesday’s filings comply with comparable submissions from final month, which got here after earlier Solana ETF purposes had been outright rejected. However now, with a U.S. authorities that seems way more crypto-friendly since President Donald Trump took workplace, optimism is rising. Many consider ETFs for different altcoins—XRP, Litecoin, Dogecoin, and Solana—are actually on the quick monitor for approval.

    Solana ETFs Edge Nearer as SEC Engages with Main Filings – BlockNews.com

    On Monday, Bloomberg ETF analysts James Seyffart and Eric Balchunas estimated a 70% likelihood that Solana ETFs will get the inexperienced gentle from the SEC. That’s a giant leap from the skepticism that surrounded altcoin ETFs only a 12 months in the past.

    Franklin Templeton Joins the Race

    The competitors isn’t slowing down. Franklin Templeton, a serious asset administration agency, made its transfer on Tuesday, submitting paperwork in Delaware to register the Franklin Solana Belief. This alerts yet one more main participant betting on Solana’s future within the ETF market.

    In the meantime, the SEC has begun searching for public feedback on a proposal to listing and commerce shares of the Grayscale Solana Belief, which is anticipated to transform into an ETF. If historical past repeats itself, this might comply with the identical path as Grayscale’s Bitcoin Belief, which efficiently transitioned into an ETF final 12 months.

    The Commodity vs. Safety Debate

    Regardless of all the thrill, there’s nonetheless one looming query: how will the SEC classify Solana? Whereas the regulator beneath its new management appears extra open to crypto, it could not deal with Solana the identical method it did Bitcoin and Ethereum.

    The long-running debate over whether or not Solana ought to be thought-about a commodity or a safety may complicate the approval course of. A misclassification may delay issues or, worse, derail ETF approvals altogether. For now, although, the market appears optimistic that change is coming—and quick.



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