SEC to conduct initial review for Solana-based ETFs with January 2025 deadline looming.
Institutional interest in Solana ETFs reflects confidence despite regulatory stringency.
Analysts predict long-term potential for Solana ETF approvals amid growing optimism.
The U.S. Securities and Exchange Commission (SEC) will review several Solana-based ETF applications as early as January 2025, sources have reported.
According to data from Bloomberg Terminal, four institutions—VanEck, 21Shares, Canary, and Bitwise—applied for Solana ETFs on November 21, 2024. The SEC formally accepted them that same day.
Under regulatory requirements, The SEC must make an initial decision within 45 days of acceptance, by January 25, 2025. Grayscale also wants to convert its Solana Trust Fund into an ETF. The deadline for that is January 23, 2025.
SEC Approval Process
These ETF applications are 19b-4 proposals. This process lets issuers list and trade securities on national exchanges while they wait for SEC approval. The SEC could approve, reject, or take more time to review the applications.
Historically, the SEC has been cautious with cryptocurrency ETF …
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