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Solana ETFs Inch Closer Toward Approval As SEC Acknowledges Filings From Multiple Asset Managers
In a significant development for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has acknowledged several Solana-based exchange-traded fund (ETF) applications from multiple asset managers. This move signals a shift in the regulator’s stance on altcoin funds entering the US market.
According to recent regulatory filings, the SEC opened public comment on Canary Capital’s Solana Trust – a proposed ETF that would bring SOL investing to Wall Street. The news was followed by similar acknowledgment of filings from VanEck, 21Shares, and Bitwise.
The developments come in the wake of the SEC soliciting public comments on Grayscale’s proposal last week to list and trade the Grayscale Solana Trust, which the asset management giant seeks to convert into a SOL ETF. Additionally, Franklin Templeton filed documents in Delaware to register the Franklin Solana Trust, which would track the price movement of Solana.
Historically, the SEC had rejected investment firms’ applications for listing Solana ETFs. However, with the new administration under President Donald Trump, momentum appears to be building around potential altcoin ETFs. Notably, the agency has launched a dedicated crypto task force headed by Commissioner Hester Pierce.
Industry analysts at ZyCrypto previously reported that Bloomberg experts James Seyffart and Eric Balchunas expect a 70% probability of Solana ETFs being approved by the U.S. SEC in 2025.
Source: zycrypto.com
