đ„Highlightsđ„
â US SEC is engaging with Solana ETF issuers in good faith
â Sources noted that 19b-4 filings might roll in soon
â Industry observers watch to note if approval is imminent
The anticipation for a spot Solana ETF offering is at its peak as potential issuers are reportedly making headway with the US SEC
The quest for spot Solana ETF products in the United States is advancing positively. As Fox Business Journalist Eleanor Terrett reported, talks between the Securities and Exchange Commission (SEC) and prospective issuers are âprogressingâ positively. This insight underscores the possibility of seeing a Solana ETF approval as early as 2025, as predicted.
đ„The Current Solana ETF Headwayđ„
As Terrett revealed, the markets regulator has now started engaging with the issuers regarding the filed S-1 registration statements. She noted that two US SEC sources confirmed that there is a good chance exchanges might start filing 19b-4 on behalf of the issuers soon.
The 19b-4 filings remain an essential part of the ETF approval process, pushed by exchanges like Cboe. The document is essentially a vote of confidence from the listing platforms urging the US SEC to approve the SOL ETF listings.
Per the process, if the market regulator receives this filing, the official 240-day window will open for it to either approve or deny the offering. At the moment, VanEck, 21Shares, and Canary Capital are pioneering the Solana ETF application drive. The duo of VanEck and 21Shares had their 19b-4 filing pulled down by Cboe in August.
The drop in the filing came with no explanation. However, the general take is that the regulator might not approve such a product at the time. As Eleanor Terrett reported, the US SEC is changing its stance already. This is hinged on the pro-crypto Donald Trump administration getting set to take over.
đ„Is SOL and Crypto ETF Approval Imminent?đ„
Prior to Donald Trumpâs victory in the US Presidential election, the market remained skeptical about the prospect of a Solana or crypto ETF. Despite this skepticism, ambitious asset managers filed applications with the regulator for XRP ETF and even Litecoin ETF products.
The confidence hinges on the confirmation of the SEC leadership change and the appointment of a pro-crypto Chairman for the commission. While details of a possible approval remain limited, the anticipation remains high.
The price of Solana also jumped on the news by $7.14% to $250, looking to breach its previous all-time high (ATH) of $260.
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