Analysts predict that Solana’s ETFs should have a decision date around the middle of March 2025.
The Chicago Board Options Exchange filed applications to list VanEck’s and 21Shares’ proposed ETFs on Monday.
Mid-March decision deadline
Eric Balchunas of Bloomberg ETF noted that Solana ETFs should have an end date by mid-March in 2025. But he stressed that November was the key date for the interim.
The final Solana ETF deadline is going to be in mid-March of 2025. Between now and November, the deadline that matters most is. They are most likely dead if Biden wins. Anything is possible if Trump wins. https://t.co/ywkf6oA8Rc
— Eric Balchunas (@EricBalchunas) July 8, 2024
On July 8, the CBOE filed two Form 19b-4 requests, one for 21Shares Core Solana Trust and the other for VanEck Solana Trust. The SEC approved the spot Bitcoin ETFs in January, and the spot Ether ones in May.
“Much like Bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that ‘other means to prevent fraudulent and manipulative acts and practices’ exist to justify dispensing with the requisite surveillance sharing agreement,” Read both documents.
Nate Geraci is the president of ETF. noted The SEC will acknowledge the documents filed once they have been acknowledged. “decision clock will start ticking.”
SEC has 240 calendar-days to determine whether it will approve or reject the CBOE’s request to list products by VanEck, a digital asset manager and VanEck. The first ETFs to be tied directly to Solana (the fifth largest cryptocurrency) are now being proposed.
The political climate could be key to Solana ETF approval
Eric Balchunas is a senior Bloomberg ETF Analyst. Balchunas stated that November’s presidential election results could be important.
“If Biden wins, these likely DOA. If Trump wins, anything possible,” Balchunas remarked.
GSR Markets has recently conducted a study. predicts Solana’s price may increase by ninefold with possible ETF approvals. This is similar to historical price increases seen for Bitcoin.
The research shows that backing The crypto industry has been embraced by former president Donald Trump, which led to a softer opposition among Democrats. This bipartisan support is now paving the way for the approval of the Solana ETF.
“We are now addressing the increasing investor interest in Solana – one of the most actively traded cryptocurrencies after Bitcoin and Ether,” Rob Marrocco is the global head of ETP Listings for CBOE.
VanEck 21Shares and VanEck initially applied The SEC will launch new products with us in June. Before the new products can be traded, S-1s must be approved by SEC.
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Source: cryptopotato.com
