Solana

Donald Trump

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-reviews-solana-etf-applications-from-major-firms/" data-wpel-link="internal">SEC Reviews Solana ETF Applications from Major Firms</a><br></p>
<p style="text-align: justify">Chicago Board Options Exchange (<strong>CBOE</strong>), VanEck, and 21Shares have taken a significant step by applying to the SEC for a <a href="https://en.coin-turk.com/solanas-remarkable-surge-overtaking-binance-coin-in-market-value/" data-wpel-link="internal">Solana</a> ETF. These applications, made through Form 19b-4, allow self-regulatory organizations (SROs) to notify the SEC of proposed rule changes. The SEC collects public comments and considers feedback while evaluating these applications.</p> 
<h2 style="text-align: justify" id="sec-has-until-march-2025">SEC Has Until March 2025</h2> 
<p style="text-align: justify">The SEC has until mid-March 2025 to respond to the proposal for Solana ETFs to trade on the spot market. This process is similar to the one used for Bitcoin and Ethereum ETFs, where public comments play a crucial role. Analysts believe the approval chances for Solana ETFs depend on the political climate after the 2024 Presidential elections.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-369032 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/blockchain-12.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">According to ETF analyst Eric Balchunas, a Donald Trump presidency could create a more favorable environment for cryptocurrency markets, potentially increasing the chances of Solana ETF approval. Conversely, a Joe Biden presidency might bring stricter regulations, complicating the ETF approval process. The political climate is a significant factor that can directly influence the SEC’s decisions.</p> 
<h2 style="text-align: justify" id="analysts-perspectives">Analysts’ Perspectives</h2> 
<p style="text-align: justify">ETF Store President Nate Geraci emphasized that the decision process begins once the SEC accepts the applications. Following this <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a>, Solana’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market performance</a> improved, with its price rising by 6.47% in the last 24 hours to reach $141.07. VanEck’s research head Matthew Sigel is optimistic about the Solana ETF possibility, drawing from the successful approval of Ethereum’s spot ETF.</p> 
<p style="text-align: justify">However, regulatory challenges remain a significant hurdle. ETF analyst James Seyffart noted that Solana faces more regulatory obstacles compared to Ethereum. The SEC treating Solana as a security, as seen in lawsuits against Coinbase and Kraken, complicates the approval process.</p> 
<h2 style="text-align: justify" id="the-fate-of-solana-etfs">The Fate of Solana ETFs</h2> 
<p style="text-align: justify">The political environment is expected to play a major role in determining the fate of Solana ETFs. The Trump administration’s crypto-friendly policies could positively impact the ETF approval process. In contrast, the Biden administration might introduce stricter regulations, reducing the chances of Solana ETF approval.</p> 
<p style="text-align: justify">Investors and analysts are closely monitoring the SEC’s review process, which includes public comments and feedback. The recent rise in Solana’s price reflects positive market expectations for ETF approval. However, the final decision rests with the SEC, influenced by the political and regulatory environment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sec-reviews-solana-etf-applications-from-major-firms/" data-wpel-link="internal">SEC Reviews Solana ETF Applications from Major Firms</a></h5>

SEC Reviews Solana ETF Applications from Major Firms

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