The post Solana ETF To Get Launch In 2025 Says Senior Bloomberg Analyst appeared first on Coinpedia Fintech News
After Bitcoin & Ethereum ETF, now VanEck, a prominent investment management firm based in New York City, has filed for a Solana ETF. However, doubts hover over whether the current administration will approve it. Notably, Senior Bloomberg ETF Analyst James Seyffart predicts that a Solana ETF could hit the market by 2025.
Solana ETF To Launch By 2025
In a recent tweet post Matthew Sigel, head of digital assets research at VanEck, announced that the firm has submitted a filing to the U.S. Securities and Exchange Commission (SEC) for a Solana ETF.
However, the new fund, called the VanEck Solana Trust, aims to capitalize on Solana’s decentralized nature, high utility, and economic feasibility. Sigel mentioned that this is the first filing for a Solana ETF in the United States.
I am excited to announce that VanEck just filed for the FIRST Solana exchange-traded fund (ETF) in the US. Some thoughts on why we believe SOL is a commodity are below.Why did we file for it?A competitor to Ethereum, Solana is open-source blockchain software designed to… pic.twitter.com/XwwPy8BXV2
— matthew sigel, recovering CFA (@matthew_sigel) June 27, 2024
VanEck’s filing specifies that if approved by the SEC, the VanEck Solana Trust will be listed on the Cboe BZX Exchange. This development comes shortly after Canadian investment firm 3iQ Corp filed a preliminary prospectus for the Solana (SOL) Fund (QSOL) in Canada.
James Seyffart suggests that the Solana ETF might only get a chance to launch in 2025. This would depend on changes in the White House and the SEC. Right now, the current administration makes it hard for new ETFs to get approved.
First SOL ETF filing in the U.S. Will be interesting to see if other issuers immediately follow suit. Early thoughts are that this only has a shot to launch sometime in 2025 if we have a new admin in the White House and SEC. Even then not guaranteed. https://t.co/I1yoWNpdd4
— James Seyffart (@JSeyff) June 27, 2024
However, this move is expected to draw a lot of attention from investors and industry experts.
What’s Next?
With traditional investors increasingly drawn to these ETFs, attention has now shifted to Ethereum ETFs expected to debut this year. The recent filing for a Solana ETF by VanEck could signal a similar trajectory for Solana, potentially paving the way for further ETF products in the market.
Analysts like Seyffart suggest that major firms such as BlackRock, Grayscale, and Franklin Templeton might follow suit, leading to a new phase of growth for SOL.