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SEC Acknowledges Solana ETF Filing
In a significant development, the Securities and Exchange Commission (SEC) has acknowledged the filing of a Solana ETF, a major breakthrough in the altcoin ETF race. This move comes as a boost to the crypto community, which has been eagerly anticipating the approval of such a product.
As reported by U.Today, VanEck was the first to propose a Solana ETF back in June. Since then, several other issuers have followed suit. Bloomberg analysts currently see a 70% chance of such a product being approved.
Last December, the SEC refrained from approving Solana ETF filings. However, the industry is hopeful that the new administration will be more open to the idea of approving more altcoin ETFs after greenlighting spot Ether ETFs last summer.
It is worth noting that BlackRock, the biggest ETF player, has stated that it would not explore a Solana ETF. The uncertain regulatory status of the SOL token appears to be the main hindrance on the road to approval.
Source: u.today
