Solana

Security

<ul>
  
 <li>&nbsp;SEC pauses Solana ETF approval, raising concerns about its classification as a security.</li>   
 <li>Market experts doubt Solana ETFs will get approval under the current U.S. administration.</li>   
 <li>VanEck argues SOL should be treated like Bitcoin and Ether for ETF authorisation.</li> 
</ul>   
<p>The U.S. Securities and Exchange Commission&nbsp; has suspended the approval process for Solana exchange-traded funds (ETFs) because of concerns over whether the coin is a security. The Cboe BZX exchange pulled related paperwork after discussions with the SEC, which has delayed progress. This decision puts the future of Solana ETFs in question.</p>   
<h2 class="wp-block-heading" id="h-regulatory-challenges-and-filing-issues">Regulatory Challenges and Filing Issues</h2>   
<p>The SEC’s decision to stop the filings has added uncertainty to the approval process. To move forward, ETFs need both the 19b-4 forms and S-1 registration statements approved. VanEck’s registration for its Solana ETF is still visible on the SEC’s system, while 21Shares’ registration has become harder to find, though it is still available through a direct link. These differences show the obstacles Solana ETFs are facing.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/AbsGMCrypto/status/1825680686671356309 
 </div>
</figure>   
<p>The SEC is taking a cautious approach to Solana’s status. The removal of the 19b-4 submissions means the SEC is looking more closely at Solana. These filings are necessary for ETF approval, so their absence indicates a delay. The limited visibility of the S-1 forms also highlights the difficulties for issuers in getting through the regulatory process.</p>   
<h2 class="wp-block-heading" id="h-market-reactions-and-expert-opinions">Market Reactions and Expert Opinions</h2>   
<p>The market is uncertain about the chances of Solana ETFs being approved under the current administration. Nate Geraci, president of The ETF Store, thinks the Biden Administration might hesitate to approve these funds. James Seyffart, an ETF expert from Bloomberg Intelligence, said Solana <a href="https://cryptonewsland.com/solana-outflow-reach-at-39m-etf-status-uncertain/" target="_blank" rel="noreferrer noopener">ETFs </a>might only get approved in 2025 if there is a change in administration.</p>   
<p>The SEC sees <a href="https://cryptonewsland.com/are-solana-and-cardano-fudging-their-tps-numbers-analyst-separates-fact-from-fiction/">Solana </a>as a security, which creates problems for ETF approval. VanEck, however, argues that Solana should be treated like Bitcoin and Ether, which are traded as ETFs. The debate about Solana’s status shows the broader uncertainty in how cryptocurrencies are classified and how this affects financial products like ETFs.</p>   
<h2 class="wp-block-heading" id="h-what-s-next-for-solana-etfs">What’s Next for Solana ETFs?</h2>   
<p>There is still a chance for Solana ETFs to be approved. Sources say new declarations or changes to the 19b-4 forms might be made to argue that Solana is not a security.</p>   
<p>Businesses like 21Shares are committed to offering access to crypto in the U.S., but the SEC’s decisions will play a key role in the future of Solana ETFs. As the situation develops, those in the industry will be watching the SEC’s conduct closely. The delay in SOL ETF applications shows the challenges of dealing with cryptocurrency-based financial products. The debate over Solana’s classification continues, leaving the future of these ETFs uncertain.</p> 
<p>The post <a href="https://cryptonewsland.com/sec-halts-solana-etf-filings-due-to-concerns-over-security-status/">SEC Halts Solana ETF Filings Due to Concerns Over Security Status</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

SEC Halts Solana ETF Filings Due to Concerns Over Security Status

Table of Contents

Crypto News Land

Other articles published on Aug 20, 2024

Sui Wallet: Detailed Review & Complete Guide On How To Use It

Grass Airdrop Reached Final Stage: GRASS token Launching Soon?

Marathon Digital Acquires $249M in Bitcoin Following $300M Senior Note Offering

Bitcoin Options Are Seeing a Flurry of Movement in Connection with the US Elections! Here Are the...

Gate.io dan Abu Dhabi Kerjasama Kembangkan Inovasi Blockchain

Top Italian Bank, Banca Sella, Plans To Offer Bitcoin Trading to Over 1.3 Million Customers

Join our free newsletter for daily crypto updates!