The SEC will reject all five applications to launch spot ETFs based on Solana.
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Happycoin.club - Hopes for the emergence of a spot Solana ETF collapsed after the U.S. Securities and Exchange Commission (SEC) announced plans to reject several applications.
FOX Business journalist Eleanor Terrett confirmed this news, stating that the regulator will not approve any new cryptocurrency exchange-traded fund under the current administration.
The American regulator informed at least two of the five issuers that applied for approval of SOL-based ETFs about the upcoming rejection of their applications. Because of this, some experts expressed cautious optimism, hoping that at least one of the five applications would be approved.
However, Terrett ruled out such a possibility, recalling the launch of a bitcoin ETF in early 2024. She noted that the SEC usually approves several ETFs simultaneously, rather than individually. In her opinion, the rejection of the Solana ETF applications indicates concerns from the American regulator regarding altcoins.
ETFStore President Nate Geraci believes that the situation regarding Solana-based ETFs will not change under the current SEC administration.
Not surprisingly, there will be no movements on the applications for spot crypto-ETFs until new leadership arrives, he wrote.
Analysts believe that the launch of a Solana-based ETF will still take place in 2025 after Donald Trump's inauguration and the change of SEC leadership.
