Solana

Momentum

The SEC is reportedly advancing discussions with ETF issuers regarding approving a <a href="https://www.thecoinrepublic.com/2024/11/01/amid-bullish-price-moves-solana-spot-etf-by-canary-capital-awaits-sec-approval/" rel="noopener noreferrer nofollow">Solana ETF</a>. This development follows increasing optimism driven by the potential for pro-crypto regulatory leadership in the U.S.
Talks remain informal, but significant engagement has been observed, signaling a shift in the regulatory landscape.
<h2 id="strong-solana-etf-applications-signal-growing-industry-confidence-strong">Solana ETF Applications Signal Growing Industry Confidence</h2>
Multiple firms are reportedly talking to the SEC about Solana spot ETFs in private discussions, according to industry sources. This includes reviewing S-1 filings, a crucial first step to product approval. The dialogue is a stark departure from the regulatory skepticism towards crypto-based ETFs before this.
Meanwhile, economic applications, such as ETFs from key Solana-focused players like Bitwise and Canary Capital, have been filed. Due to these firms, Solana is posed as a strong DeFi ecosystem, high transaction volumes, and super user-friendly low-fee firm. The expanding list of applications reflects renewed confidence in regulatory progress.
Even with <a href="https://www.thecoinrepublic.com/2024/11/21/breaking-gary-gensler-to-resign-as-us-sec-chairman-in-january/" rel="noopener noreferrer nofollow">Gary Gensler</a> still leading the SEC, his position seems increasingly untenable. These discussions could accelerate if his replacement should be pro-crypto in a potential pro-crypto administration. The industry hopes the leadership changes match the administration’s crypto-friendly policies.
<h2 id="strong-us-approval-could-spark-global-crypto-etf-wave-strong">US Approval Could Spark Global Crypto ETF Wave</h2>
The green light on a Solana ETF hinges on the advent of a pro-crypto government. Donald Trump’s re-election campaign also targets appointing supportive leadership at the SEC, and that includes plans for a slate of US crypto regulation changes. Firing Gensler may turn out to be the first part of what could be a much bigger turn for crypto regulation.
Under the current leadership, initiatives to introduce similar products met regulatory resistance. SEC often takes time to acknowledge submissions, leaving applications in limbo. This is likely to change under the next regime.
Only in Brazil have Solana ETFs been approved, but developments in the US could create global ripple effects. US approval of a crypto ETF is a critically important indicator of the market’s acceptance.
<h2 id="strong-approval-may-still-face-delays-until-2025-strong">Approval May Still Face Delays Until 2025</h2>
Optimism is on the rise, but sources indicate a Solana ETF approval could take until early 2025. Informal negotiations are underway, and as of now the SEC has not officially broached any application.
Market dynamics favor more and more crypto assets, and ETF issuers are in no rush. Firms such as <a href="https://www.thecoinrepublic.com/2024/11/01/amid-bullish-price-moves-solana-spot-etf-by-canary-capital-awaits-sec-approval/" rel="noopener noreferrer nofollow">Canary Capital </a>highlight Solana’s utility and adoption because it benefits the apps they support. This is consistent with the new positive institutional outlook towards blockchain technology.
Notably, the market has shifted from extreme skepticism to cautious optimism in terms of ETF approvals.
Industry watchers agree that these talks are a big step forward. But that won’t be the last word until future SEC actions and leadership changes.
The post <a href="https://www.thecoinrepublic.com/2024/11/22/solana-etf-gain-momentum-as-sec-engages-in-approval-talks/" rel="noopener noreferrer nofollow">Solana ETF Gains Momentum as SEC Engages in Approval Talks</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Solana ETF Gains Momentum as SEC Engages in Approval Talks

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 22, 2024

As Dogecoin and Shiba Inu move closer to $1, XYZVerse gears up for a $10 surge

NEAR Protocol to Build World’s Largest Open-Source AI Model with 1.4T Parameters

INRGrid Stablecoin Compliance Report 2024

Solana ($SOL) Hits All-Time High of $264: Possible Factors Behind the Surge

Weekly Article Recap: 11/04-11/08

Crypto Experts Predict 8,500% Gains for These 4 Emerging Tokens!

Join our free newsletter for daily crypto updates!