The outlook for spot Solana ETFs is making significant strides, as the U.S. Securities and Exchange Commission (SEC) is currently reviewing S-1 applications, according to Fox News reporter Eleanor Terrett, based on information from two reliable sources.

"The filing of 19b4 does not mean it will be approved by the SEC," Terrett said Thursday morning in a post on X. "In fact, previous 19b4 applications by VanEck and 21Shares were taken down from the CBOE website in August, with some industry participants speculating that the reason was the agency under Gary Gensler's leadership is not inclined to approve these listings."

Several sources from an issuer confirmed that the SEC has begun reaching out to them about this matter.

On Thursday afternoon, the Cboe BZX exchange submitted four applications for spot Solana ETFs, marking progress as companies seek approval from the SEC. Cboe filed 19b-4 applications for proposals from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital.

James Seyffart, an ETF analyst at Bloomberg Intelligence, stated that the deadline for the SEC to decide how to proceed is early August 2025. "Currently, the decision is in the hands of the SEC," Seyffart said in a post on X on Thursday.

VanEck is the first company to file for a Solana ETF on June 27, 2024, shortly after the SEC approved the 19b-4 application forms for spot Ethereum ETFs. VanEck's application was followed by 21Shares and Canary Capital on October 30. On Wednesday, Bitwise registered a Solana ETF in Delaware, signaling its intention to file an official S-1.

"The big question is whether the SEC will acknowledge these applications (within two weeks) or ask them to withdraw like before? From our perspective, CBOE is pushing the limits, optimistic that a ‘lame duck’ SEC will handle these applications in the usual manner until a new (more agreeable) leadership is appointed," Eric Balchunas, senior ETF analyst at Bloomberg, said on X. "But even then, lawsuits related to viewing Solana as a security will need to be resolved first. All of this is quite possible but driven more by hope than by an official signal from the SEC."

According to Terrett, these issuers have noted recent interaction from the SEC and increased optimism from the upcoming cryptocurrency-friendly White House administration, raising hopes for the approval of a Solana ETF in 2025.

"The strong DeFi ecosystem of Solana has led to robust and sustainable on-chain analytics, as measured by the number of daily transactions, active addresses, and new addresses, while maintaining a low fee environment for all users," investment firm Canary Capital stated in a previous announcement.

The price of SOL, the native token of the Solana blockchain, has increased nearly 10% to $257 in the past 24 hours. The world's fourth-largest cryptocurrency now has a market capitalization of $121 billion.

The SEC has approved 11 spot Bitcoin ETFs that began trading in January, followed by eight spot Ethereum ETFs approved for trading in July.


Source: https://tapchibitcoin.io/sec-dang-tham-gia-voi-cac-don-vi-dang-ky-etf-solana.html