$SOL News: Today the Solana ETF has a high likelihood of rejection.
Attention to those who opened short positions, as there may be a potential retracement.
Crypto ETFs under current management, Terrett wrote.
The decision marks a sharp reversal from previous optimism. Just days ago, reports suggested that negotiations for Solana ETFs were progressing well, and approval might be within reach.
However, recent signals indicate that the regulatory agency remains hesitant to expand crypto-related ETFs beyond Bitcoin and Ethereum.
Filing a Form 19b-4, which outlines the timeline for the SEC's review process, is a crucial step in this journey. However, James Seyffart from Bloomberg Intelligence noted that several applicants have yet to reach this stage, as indicated by deadlines marked as “N/A.”
