As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of regulatory shifts and industry transformations. The potential arrival of Solana exchange-traded funds (ETFs) on Wall Street in 2025 is an intriguing development that merits closer scrutiny.
It is possible that Solana-based Exchange Traded Funds (ETFs) could be introduced on Wall Street by 2025, given the private discussions between potential issuers and the Securities and Exchange Commission (SEC), as well as the optimism generated within the industry by conversations with Donald Trump’s administration.
Staff members at the U.S. Securities and Exchange Commission are reportedly in discussions with exchange-traded fund providers regarding filings for a Solana (SOL) ETF, according to Fox Business. It’s said that major exchanges such as the CBOE might submit 19b-4 forms on behalf of companies in the near future.
As a researcher, I’m excited to share that companies such as VanEck, 21Shares, Canary Capital, and potentially Bitwise, have expressed intentions to submit applications to the Securities and Exchange Commission (SEC) for Spot Solana ETFs. This means they aim to create investment vehicles that track the price of Solana directly, providing an avenue for investors to gain exposure to this cryptocurrency market.
Two essential documents, S-1 and Form 19b-4, are necessary when introducing fresh ETF classes for trading. Normally, issuers take care of registering securities or submitting S-1 applications, whereas exchanges manage the proposal of rule changes in Form 19b-4 to facilitate new listings.
The SEC is not obligated to approve filings after receiving documents from issuers and exchanges. In August, the CBOE removed 19b-4 forms filed for VanEck and 21Shares on its website.
The main concern highlighted was the ambiguity regarding the Securities and Exchange Commission (SEC) chairman Gary Gensler’s perspective on Solana’s status as a security. It is important to note that the regulatory landscape in America has shown signs of shift since Donald Trump assumed the role of President-elect.
Trump’s advisors were examining potential nominees for the inaugural White House position on cryptocurrency. Notable figures supportive of digital currencies are being considered for significant positions such as the Chair of the Securities and Exchange Commission (SEC) and the Secretary of the Treasury.
Increased assurance about a lax stance towards digital assets by U.S. regulators has fueled expectations of broadening the current lineup of crypto Exchange-Traded Funds (ETFs). Positive feedback from the Securities and Exchange Commission (SEC) staff has sparked optimism for the potential launch of Solana ETFs in the upcoming year.
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2024-11-21 20:21