The bull sentiments for Solana (Sol) Cryptocurrency are now at a very high level of momentum, as Nate Geraci predicted that the SEC body is working with the Solana spot ETF applicants.
Solana (Sol) is a popular Proof-of-Stake (PoS) Cryptocurrency, which is Popular for its ability to process Crypto transactions with scalability of up to 70,000 TPS. The history of the Solana crypto project is full of ups & downfalls, but the confidence of Solana enthusiasts made Solana a top-level ecosystem for Defi activities, after the Ethereum blockchain.
Just a couple of days ago equity exchange Cboe BZX filed for spot Solana ETF product from VanEck, 21Shares, Bitwise Asset Management and Canary Capital.
In response, Bloomberg ETF expert James Seyffart said that if the American securities regulatory body SEC shows a response soon, then there are chances that the final decision for this application will be in August 2025.
UPDATE: We have Solana ETF 19b-4 filings. This one is for @BitwiseInvest. Final deadline on this — if the SEC acknowledges it — will be around early August. pic.twitter.com/Jx5MJ9bWOG
— James Seyffart (@JSeyff) November 21, 2024
Also, the ETF store president, Nate Geraci, shared his prediction on this application & predicted that there are chances that the SEC body will approve this application before the end of 2025.
Geraci noted that the SEC body may be in contact with the applicants regarding this application & this is a very big positive sign.
Nate Geraci, president of The ETF Store, said that he believes that the Solana ETF is likely to be approved by the end of next year at the latest, and the SEC may be in contact with the issuer about the product, which is obviously a positive sign. https://t.co/HByBkauJx5
— Wu Blockchain (@WuBlockchain) November 24, 2024
Yesterday, we already reported that Solana Cryptocurrency is going through huge bullish sentiment because of the increment in the number of Solana spot ETF applications amid this bull phase of the Bitcoin market.
Also, Wyoming stable token project officials are considering hiring the Solana crypto project leadership for the development of Wyoming’s state-backed stablecoin to enhance the digitization efforts in the payment sector of the state government to the next level.
Read also: Solana Spot ETFs Gain Momentum in U.S. After Brazil’s Approval, But Regulatory Challenges Persist
