Solana ETF Approval Gains Momentum as SEC Signals Shift
Solana-based exchange-traded funds (ETFs) may soon hit Wall Street, with the U.S. Securities and Exchange Commission (SEC) reportedly engaging with issuers about potential approvals. Fox Business reporter Eleanor Terrett revealed that the SEC is quietly discussing Solana ETFs with several applicants, signaling a softening stance toward crypto products.
Political Changes Fuel Optimism for Solana ETF
The announcement of SEC Chair Gary Gensler’s resignation, effective January 20, 2025, aligns with the possibility of a more pro-crypto administration taking office, potentially under Donald Trump. Trump’s campaign promises to overhaul U.S. crypto policy, including replacing Gensler with a more industry-friendly leader, are seen as key to this shift.
Historically, Solana ETF applications have faced regulatory roadblocks, often stalling early in the review process. Under SEC rules, the agency has a 240-day deadline to approve or reject filings, but no Solana ETF has reached the final stages.
Renewed Interest in Solana ETFs
Recent filings indicate growing pressure on the SEC to act. Canary Capital filed for a Solana ETF in October, followed by Bitwise earlier this month. These applications, paired with the SEC’s reported discussions with issuers, suggest the agency may be preparing to approve the first Solana ETF.
Gensler’s Exit Signals Regulatory Shifts in 2025
Gensler’s departure could mark the beginning of a more favorable regulatory environment for digital assets. His resignation statement praised the SEC’s work, but his tenure has been marked by criticism from the crypto industry.
The timing of his exit aligns with expectations for major regulatory changes in 2025, potentially setting the stage for significant crypto adoption in financial markets. A Solana ETF approval could be one of the first steps in a broader shift toward integrating digital assets into traditional investment products. As the political and regulatory landscape evolves, the potential approval of a Solana ETF could herald a new chapter for cryptocurrency on Wall Street.
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