Hopes for the emergence of spot Solana - ETF collapsed after the U.S. Securities and Exchange Commission (SEC) announced plans to reject several filings.
FOX Business journalist Eleanor Terrett confirmed the news, saying the regulator will not approve any new cryptocurrency ETFs under the current administration.
The US regulator has informed at least two of the five issuers that applied for approval ETF based on the SOL, about the upcoming rejection of applications. Because of this, some experts expressed cautious optimism, hoping that at least one in five applications will be approved.
However, Terrett ruled out this possibility, recalling the launch bitcoin ETF in early 2024. She noted that the U.S. Securities and Exchange Commission typically approves several ETF simultaneously, rather than separately. In her opinion, the rejection of applications for Solana - ETF speaks of the US regulator's concerns regarding altcoins.
ETFStore President Nate Geraci believes that the situation with exchange-traded funds based on Solana will not change under the current SEC administration.
Unsurprisingly, there has been no movement in spot crypto bids. ETF will not happen until the new leadership arrives,” he wrote.
Analysts believe that the launch ETF on the basis of Solana will still take place in 2025 after the inauguration of Donald Trump and the change of the head of the SEC.
