š„š„š„ Analyst tips #SolanaETF deadline for mid-March after new filings
Final Decision on Solana ETFs Expected by March 2025
The United States SEC is set to make a final decision on Solana (SOL) exchange-traded funds (ETFs) around mid-March 2025. This follows the Chicago Board Options Exchange (#CBOE ) filing applications on Monday to list proposed ETFs from VanEck and 21Shares.
On July 8, CBOE submitted two Form 19b-4 applications: one for the 21Shares Core Solana ETF and another for the VanEck Solana Trust. The CBOE compared these potential Solana funds to the recently approved spot Bitcoin ($BTC ) and spot Ether (ETH) ETFs, citing Solanaās decentralization, throughput, and speed as factors that make it resistant to market manipulation.
According to the filings, the CBOE believes that, similar to Bitcoin and Ether, Solanaās resistance to price manipulation and existing safeguards justify bypassing the typical surveillance-sharing agreement required by the SEC.
The SEC has 240 days to decide on the rule change necessary for CBOE to list these ETFs. However, the approval may hinge on the outcome of the upcoming presidential election.
Senior Bloomberg ETF analyst Eric Balchunas has noted that the fate of Solana ETFs could be influenced by the November election. He suggests that if President Joe Biden is re-elected, Solana ETFs may face significant hurdles, whereas a victory for Donald Trump could increase the likelihood of approval.
In a June 27 report, #CryptoMarket maker GSR Markets indicated that the approval and launch of Solana ETFs in the U.S. could potentially boost SOLās price significantly, possibly by as much as nine times.
Source - cointelegraph.com
