Solana
VanEck files for Solana ETF, SOL rebounds 6%
Solana SOL/USD investors saw a price increase of more than 6% on Thursday after the asset manager VanEck filed a Registration Form S-1 with the SEC for a Solana Exchange Traded Fund (ETF).
What happened: This is the first attempt to create a Solana ETF in the United States, following the launch of a similar product in Canada six days prior.
The news follows the success Bitcoin SEC approvals of spot BTC/USD ETFs earlier this year.
Analysts predict a similar positive outcome for Ethereum ETH/USD ETF, with potential inflows of $15 billion in the first eighteen months of launch.
However, the path to a Solana ETF in the United States remains uncertain.
Industry experts like Bloomberg analyst James Seyffart believe Approval depends on potential changes in the regulatory landscape.
In a social media post, Seyffart said: “Early thoughts are that this only has a chance of launching in 2025 if we have a new administrator in the White House and the SEC. Even then, it’s not guaranteed.
Read also : China’s Cryptocurrency Mining Ban Was ‘Very Reckless’, Hong Kong Academic Says
This uncertainty is reflected in prediction markets like Polymarket, where chance The risk of a Solana ETF being approved in 2024 is only 15%.
Despite the hurdles, VanEck’s filing signals growing interest in Solana-based investment products.
Whether an ETF launch will be successful in the near future will depend on the SEC’s approach and, potentially, a change in the political landscape.
And then: Jan Van Eck will speak at Benzinga The Future of Digital Assets event on November 19 on the Complexities of Crypto ETFs and other emerging investment vehicles.
Read more : Bitcoin ‘downside risk’ looms again in July, says JPMorgan
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