Solana

Biden

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-reviews-solana-etf-applications" data-wpel-link="internal">SEC Reviews Solana ETF Applications</a><br></p>
<p style="text-align: justify">Major firms including the Chicago Board Options Exchange (CBOE), VanEck, and 21Shares have submitted applications to the SEC for a <a href="https://en.bitcoinhaber.net/surge-in-solanas-market-value-overtakes-crypto-market-trends" data-wpel-link="internal">Solana</a> Exchange-Traded Fund (ETF). Utilizing Form 19b-4, these self-regulatory organizations (SROs) inform the SEC of proposed rule changes. The SEC will gather public comments and feedback during its evaluation process.</p> 
<h2 id="how-will-politics-impact-approval">How Will Politics Impact Approval?</h2> 
<p style="text-align: justify">The SEC has until March 2025 to make a decision on the Solana ETFs trading on the spot market, a process similar to that used for Bitcoin and Ethereum ETFs. Analysts suggest that the political climate post-2024 Presidential elections could influence the approval chances for the Solana ETF. A Trump presidency might favor cryptocurrency markets, whereas a Biden administration could impose stricter regulations.</p> 
<p style="text-align: justify">ETF analyst Eric Balchunas believes a Trump presidency may create a more supportive environment for cryptocurrency, potentially boosting the chances of Solana ETF approval. Conversely, a Biden presidency might result in more stringent regulations, complicating the approval process. Political factors are crucial in the SEC’s decision-making process.</p> 
<h2 id="what-do-analysts-say">What Do Analysts Say?</h2> 
<p style="text-align: justify">Nate Geraci, President of ETF Store, highlighted that the decision-making process begins once the SEC accepts the applications. Following the <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">news</a>, Solana’s <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market performance</a> showed an improvement, with its price increasing by 6.47% to $141.07. Meanwhile, VanEck’s research head, Matthew Sigel, remains optimistic about the ETF’s prospects, citing the successful approval of Ethereum’s spot ETF.</p> 
<p style="text-align: justify">Despite this optimism, regulatory challenges persist. ETF analyst James Seyffart pointed out that Solana faces more regulatory hurdles than Ethereum. The SEC’s classification of Solana as a security, as evidenced in lawsuits against Coinbase and Kraken, adds complexity to the approval process.</p> 
<h2 id="investor-takeaways">Investor Takeaways</h2> 
<ul> 
 <li>Political outcomes post-2024 elections are critical to the ETF’s fate.</li> 
 <li>Public comments will significantly influence the SEC’s decision.</li> 
 <li>Solana’s recent market performance indicates positive investor sentiment.</li> 
 <li>Regulatory hurdles, particularly the SEC’s classification of Solana, remain a challenge.</li> 
</ul> 
<p style="text-align: justify">The political environment is expected to be a significant determinant in the fate of Solana ETFs. While a Trump administration might favor approval, a Biden administration could introduce stricter regulations, affecting the chances of approval. Investors and analysts are closely watching the SEC’s review, which involves public comments and feedback. Although the rise in Solana’s price reflects market optimism, the final decision lies with the SEC, influenced by both political and regulatory factors.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-reviews-solana-etf-applications" data-wpel-link="internal">SEC Reviews Solana ETF Applications</a></h5>

SEC Reviews Solana ETF Applications

Table of Contents

BH NEWS

Other articles published on Jul 9, 2024

MoonBag Coin Gains Investor’s Certitude as The Graph And Dogwifhat Creates Ambivalence

Golem Shifts 4,600 ETH to Binance and Bitfinex Amid Price Recovery

MoonBag Meme Coin Crowned As The Top Crypto Presale Of 2024, Making Chainlink and Jupiter Investo...

Cardano (ADA) Price Prediction: Investor Actions May Halt Recovery – Expert

Elite Crypto Analyst Predicts Where Bitcoin Price Is Headed Next – BTC Still ‘Not Ready’ for Expl...

South Korea-based Bithumb Exchange Announced That It Listed This Altcoin In Spot Transactions!

Join our free newsletter for daily crypto updates!