U.S. Crypto Markets Anticipate Solana ETFs as Regulatory Optimism Grows
by aria-crypto.com
November 24, 2024 at 07:35
U.S. Crypto Markets Anticipate Solana ETFs as Regulatory Optimism Grows
The U.S. crypto landscape is poised for significant transformation with the potential approval of Solana (SOL) spot ETFs by the end of 2025.
Applications for Solana ETFs submitted by Cboe BZX, VanEck, 21Shares, Bitwise Asset Management, and Canary Capital indicate a significant progression in digital asset offerings.
James Seyffart, an ETF analyst with Bloomberg Intelligence, noted that the SEC’s decision on these applications is expected by early August 2025.
Positive sentiments are echoed by ETF Store President Nate Geraci, highlighting constructive dialogues between the SEC and ETF issuers.
The election of President-elect Donald Trump and a pro-crypto Congress has injected further optimism, hinting at favorable shifts in regulatory stances.
The resignation of SEC Chairman Gary Gensler facilitates a potentially more supportive ecosystem for cryptocurrencies.
Alexander Blume, CEO of Two Prime Digital Assets, emphasized the success of previous spot Bitcoin and Ethereum ETFs as setting a precedent.
Blume further stressed the transformative role of ETFs in enhancing market accessibility for institutional and retail investors.
The ETF market has been flourishing, with spot Bitcoin ETFs surpassing $30 billion in total net inflows, and the entire ETF ecosystem reaching a record $913 billion.
With the industry geared up for an innovation-friendly regulatory regime, VanEck’s Matthew Sigel expressed confidence in the trading of a Solana ETF by the end of next year.
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