Regulation
Solana ETF Decision Awaits SEC Approval by Mid-March 2025
The Chicago Board Options Exchange (CBOE) has filed Form 19b-4s for Solana exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC).
Form 19b-4s is used to inform the SEC of a rule change proposed by a self-regulatory organization (SRO) that has some degree of authority over an industry. In this format, the SEC ultimately invites public comment and then publishes all comments regarding the proposed rule change in that form.
SEC Has Until Mid-March 2025 to Make Decision on Solana ETF
CBOE has filed the 19b-4s format for spot trading of the Solana ETF for the first two issuers, Van Eck AND 21Shares. The SEC would have until 2025 to respond to the request. The process is similar to what happened with spot Bitcoin and Ethereum ETFs.
ETF analysts believe the chances of approval will increase if Donald Trump wins presidential election in November 2024.
To know more: Solana (SOL) Price Prediction 2024/2025/2030
“The Solana ETFs look like they will have a final maturity of mid-March 2025. But between now and then the most important date is November. If Biden wins, these will probably be dead on arrival. If Trump wins, anything is possible,” ETF analyst Eric Balchunas She said.
Meanwhile, Nate Geraci, the president of the ETF store, stressed that once the SEC recognizes these registrations, the clock will tick for a decision. That said, Solana’s price has risen more than 6.47% in the past 24 hours. It is currently trading at $141.07.
Price Solana Performance. Source: Being in Cryptocurrency
Last month, VanEck’s head of research, Matthew Sigeldiscussed cryptocurrency regulation in the United States after the company’s recent attempt to register a Solana ETF spot. He mentions that a Solana ETFs it is a possibility, given the fluidity of the process of Ethereum Spot ETF Approval Goes.
The outlook for Solana’s ETF seat has changed in recent weeks. However, in late May, ETF analyst James Seyffart pointed out that regulatory hurdles Solana may face in ETF approvals.
To know more: Cryptocurrency Regulation: What Are the Pros and Cons?
“Based on current history/needs, it will happen within a few years of getting a CFTC-regulated futures market. But Congressional and market structure bills like FIT21 could make it happen more quickly. I think a SOL The ETF would see the most demand compared to other digital assets (other than BTC and ETH). But the SEC isn’t circling SOL’s status like it did with ETH. Those lawsuits against Coinbase and Kraken and others clearly say, ‘Solana is a security.’ Which could easily make this a very rocky road,” Seyffart noted.
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