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SEC Taking a Closer Look at Solana ETF Applications

Just as Gary Gensler is preparing to depart, the SEC is engaging with Solana ETF applicants.

Nov 21, 2024 • 1 min read

The U.S. Securities and Exchange Commission (SEC) is now actively engaging with issuers on spot Solana ETF applications, per reporting by Eleanor Terrett of Fox News.

What’s the scoop?

Similar Faces: VanEck, 21Shares, and Bitwise are spearheading efforts for a Solana ETF, with Bitwise recently registering in Delaware for positioning here. These firms bring substantial ETF application experience, which boosts confidence in the eventual approval prospects for a Solana ETF.

Bankless take:

The SEC's engagement with Solana ETF applications signals growing acceptance of diversified crypto ETF products beyond Bitcoin and Ethereum. While optimism runs high, a timeline for approval remains uncertain, and the transition to a more crypto-friendly administration in 2025 could be pivotal.

As for Solana, a potential ETF underscores its momentum as a rising crypto consumer powerhouse. And if a Solana ETF does arrive in the near future, the floodgates would be opened for other crypto ETFs to follow suit after that.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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