The CBOE has filed form 19b-4 for Solana ETFs with the SEC, with a decision expected by mid-March 2025. The chances of approval could improve if Trump wins the 2024 Presidential election. Amid these ETF developments, Solana’s price has risen by 6.47% in the past 24 hours, trading at $141.07.
The Chicago Board Options Exchange (CBOE) has submitted form 19b-4 to the United States Securities and Exchange Commission (SEC) for Solana exchange-traded funds (ETFs). Form 19b-4 is used to notify the SEC about proposed rule changes from organizations that regulate themselves. The SEC will use this form to seek public comments on the proposed changes and will publish all the feedback it receives.
Solana ETF Approval Timeline and Political Impact
The CBOE has filed form 19b-4 for Solana ETFs, specifically for the first two issuers, VanEck and 21Shares. The SEC has until 2025 to respond to this request, following a process similar to that used for spot Bitcoin and Ethereum ETFs.
ETF analysts believe that approval chances may improve depending on the outcome of the November 2024 Presidential election. According to ETF analyst Eric Balchunas, “Looks like Solana ETFs are going to have a final deadline of mid-March 2025. But between now and then, the most important date is in November. If Biden wins, these are likely dead on arrival. If Trump wins, anything is possible.”
Updates on Solana ETF Filing and Market Impact
Nate Geraci, President of the ETF Store, emphasized that once the SEC acknowledges the Solana ETF filings, the decision-making process will begin. Meanwhile, Solana’s price has increased by over 6.47% in the past 24 hours and is currently trading at $141.07.
Last month, Matthew Sigel, VanEck’s chief of research, discussed the potential for a Solana ETF following the firm’s recent attempt to register a Solana ETF spot. He suggested that, given the smooth approval process for Ethereum’s spot ETF, a Solana ETF could be feasible.
The prospects for a Solana ETF have evolved in recent weeks. However, ETF analyst James Seyffart highlighted the regulatory challenges Solana might face. He noted that while a Solana ETF might see significant demand compared to other digital assets (excluding BTC and ETH), the SEC has been cautious about Solana’s status. Ongoing lawsuits against firms like Coinbase and Kraken, which label Solana as a security, could complicate the approval process, making it a potentially rocky road.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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BlackRock’s Ethereum ETF has generated significant interest but faced outflows affecting Ethereum’s price. Analysts are watching how these changes impact crypto investment trends.

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The ETF launch has been volatile, with mixed market reactions. The current drop in Ethereum’s price might be temporary, and its long-term effects are still uncertain.

BlackRock Ethereum ETF Sees Initial Surge and Volatility
The BlackRock iShares Ethereum ETF made a strong debut, attracting $266 million in capital on its first day. This influx highlighted institutional confidence in the new ETF, which notably drew significant Ethereum allocations from Coinbase Prime. The promising start suggested a bright future for Ethereum-focused ETFs in the financial market.

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However, the situation changed rapidly on the second day. Spot Ethereum ETFs faced a significant $133 million outflow, turning net inflows into a negative balance. This shift was partly driven by substantial redemptions from Grayscale Ethereum Trust. Such volatility reflects the market’s ongoing adjustment to new ETF products and evolving investor behaviors.
The conversion of Grayscale Ethereum Trust into an ETF has notably influenced recent market fluctuations. On the second day, Grayscale’s Ethereum ETF saw a net outflow of $386 million, contributing to downward pressure on Ethereum prices. Over two days, total outflows exceeded $811 million, dropping Grayscale’s Ethereum assets under management (AUM) below $8 billion. Meanwhile, the mini-Trust recorded inflows of $45 million, indicating diverse investor strategies within Grayscale’s offerings.
Ethereum ETF Launch Triggers Price Drop Amid Market Adjustments

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The approval and subsequent launch of Ethereum ETFs have put noticeable selling pressure on Ethereum’s price, which has fallen by over 8% to $3,150. Analysts point to a “sell-the-news” phenomenon, where investors take profits following anticipated positive developments.
This bearish trend may continue in the short term before stabilizing, although long-term prospects for Ethereum remain positive as the market adapts to the new ETF landscape.

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In summary, the initial days after BlackRock’s Ethereum ETF launch have been marked by significant volatility, reflecting the market’s complex response to new financial products. Despite strong initial inflows, large outflows have tempered early optimism and impacted Ethereum’s price. Both investors and analysts will be monitoring the coming weeks to gauge the long-term effects of these ETFs on Ethereum’s market performance. For now, cautious optimism seems to be the prevailing sentiment as the market continues to adjust.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#BlackRock #SolanaETF #KamalaHarris $BTC $SOL $XRP

(Friday 05 July 2024, 03:49 AM GMT):

The cryptocurrency market has seen a notable downturn recently, with Solana ($SOL ) experiencing a 13.65% price drop over the past 48 hours, now trading at $123.18. This sharp decline comes amidst the Bitcoin selling rumors from Germen Govt and Mt.Gox.
Financial institutions VanEck and 21Shares have both filed applications for a Solana (SOL) spot Exchange Traded Fund (ETF). Investors are now on edge, waiting for the final decision on these applications.
Nate Geraci, the President of The ETF Store, has hinted that a Solana spot ETF might be launched as early as next year. Although he didn't provide a specific launch date, Geraci's statement has generated buzz and anticipation in the crypto world.

Launching a Solana spot ETF would be a groundbreaking event for the cryptocurrency market. Solana has been making waves with its high-performance blockchain, known for its scalability and rapid transaction speeds. Introducing an ETF focused on Solana would give investors a new way to access this emerging digital asset.
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