• The SEC has removed Solana (SOL) from its list of securities, signaling a possible change in U.S. cryptocurrency regulations.

  • BlackRock announced a Solana ETF expected to launch next month, which could significantly boost Solana’s market value.

  • GSR Markets predicts Solana’s market cap could reach $614 billion post-ETF, an increase of over 840% from its current value.

The U.S. Securities and Exchange Commission (SEC) has revised its complaint in lawsuit against Binance removing Solana (SOL) from its list of securities. This decision could signal broader change in how cryptocurrencies are perceived and regulated in the U.S. 

SEC no longer classifies Solana as security!Solana ETF is coming next month and BlackRock already dropped the announcement.$SOL is going to $1,000 and many alts will skyrocket 100x pic.twitter.com/e83ApZAWjP

— 0xNobler (@CryptoNobler) July 30, 2024

SEC’s move follows recent court rulings that have already impacted classification of other crypto assets. This regulatory adjustment may provide clarity for Solana which has long existed in the regulatory gray area. The change might also pave the way for new opportunities, such as the Solana exchange-traded fund (ETF). BlackRock has already announced the upcoming Solana ETF which is expected to launch next month. 

The introduction of Solana ETF is forecasted to potentially lead to significant price increases for altcoins. After the Solana ETF approval, many Solana altcoins are expected to experience parabolic growth with some estimates suggesting a 50-100x increase in price.

Considering BlackRock’s recent announcement regarding plans to index private markets along with recent VanEck & 21Shares applications, approval of Solana ETF seems inevitable. 

The post Solana Gains Clarity as SEC Excludes it From Securities, ETF Launch Imminent  appeared first on Crypto News Land.

#SEC #ETF