The U.S. Securities and Change Fee (SEC) is reportedly swatting down Solana (SOL)-based exchange-traded fund (ETF) purposes within the remaining weeks of Gary Gensler’s tenure because the regulator’s chair.
Fox Enterprise journalist Eleanor Terrett, citing unnamed sources, says the SEC has notified not less than two of the 5 SOL ETF candidates that their filings can be rejected.
Terrett additionally says the present SEC administration has no plans to green-light any of the opposite purposes.
The monetary corporations VanEck, 21Shares, Canary Capital and Bitwise have all filed to supply SOL ETFs, and crypto asset supervisor Grayscale additionally lately utilized to transform its Solana Belief right into a spot exchange-traded fund.
Eric Balchunas, a senior ETF analyst at Bloomberg, predicts the corporations will reapply with the brand new SEC regime subsequent yr.
“This was [Gensler’s] parting present I suppose.”
After Donald Trump’s election victory final month, Gensler introduced he would step down in January, on the president-elect’s inauguration day. The SEC chair’s time period was set to run till 2026.
Below Gensler’s management, the securities watchdog launched high-profile enforcement actions in opposition to many crypto corporations, together with trade giants Binance, Kraken, Coinbase, Ripple Labs, Uniswap Labs and Consensys.
Trump picked former SEC Commissioner and present Patomak Companions chief government Paul Atkins to move the regulatory company.
In 2022, whereas at Patomak, Atkins penned a letter noting that as Individuals have gotten extra accustomed to crypto property, they might turn out to be curious about buying them for his or her retirement plans.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Value Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses you could incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney