Solana

Bitcoin

21Shares, a digital assets investment management firm, filed on Friday to seek approval from U.S. regulators for an exchange-traded fund (ETF) linked to the spot price of the crypto token Solana, as reported by Reuters. 
This follows a <a href="https://www.unlock-bc.com/125256/vaneck-files-for-first-us-solana-etf/" class="ek-link">similar filing by VanEck the day before.</a> The Securities and Exchange Commission (SEC) previously approved spot Bitcoin ETFs from both firms in January, marking a significant regulatory milestone after a lengthy process. Both VanEck and 21Shares are now awaiting SEC approval for spot ETFs tied to Ethereum, the second-largest cryptocurrency. 
If approved, these Solana ETFs would be listed on the CBOE exchange, pending regulatory changes to allow trading of these new products. Discussions around these potential changes are ongoing, with a decision expected soon. The CBOE has not yet commented on these developments. 
Unlike Bitcoin and Ethereum, Solana currently lacks futures contracts trading on platforms like CME Group. Despite this, Andrew Jacobson, head of legal at 21Shares, emphasized that the presence of futures contracts should not be the sole determinant for ETF eligibility according to regulatory standards. 
<h2 class="wp-block-heading" id="h-solana-etf-bets-on-trump-presidency">Solana ETF Bets on Trump Presidency</h2> 
VanEck and 21Shares’ moves signal a strategic bet on the future regulatory environment, particularly anticipating potential changes under a new U.S. administration.
Given the extended timeline for approval, VanEck and 21Shares’ decisions seem to hinge on the expectation that a crypto-friendly administration, possibly under Donald Trump, could significantly alter the regulatory landscape by early 2025. 
Unlike Bitcoin and Ethereum, which already have approved ETFs linked to their futures contracts, Solana lacks such derivatives trading on platforms like CME Group. This absence traditionally poses a hurdle for ETF approvals under current SEC standards, but the political calculus could shift with a change in leadership. 
Under the Biden administration, the SEC has maintained a cautious stance towards approving crypto-related financial products, citing concerns over market manipulation and investor protection without a robust derivatives market. However, a potential Trump presidency might bring new leadership to the SEC, potentially paving the way for a more favorable approach to cryptocurrencies like Solana, despite current regulatory obstacles. 
The post <a href="https://www.unlock-bc.com/125320/21shares-files-for-approval-to-launch-solana-linked-etf/">21Shares Files for Approval to Launch Solana-Linked ETF</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

21Shares Files for Approval to Launch Solana-Linked ETF

목차

UNLOCK_ENG

2024년 6월 29일에 게재된 다른 기사

Peter Schiff Has Some Bad News for Bitcoin ETF Investors

21Shares Joins the Race, Files Solana ETF Application

VeChain (VET) Poised for Significant Rally, Analyst Predicts

Buy These Altcoins Now Before Solana ETF Sends Them Soaring

Solana Price Prediction Following The Epic Year Surge: What To Expect For SOL Price?

Best Presale in July 2024 Highlights MoonBag’s Accomplishments Over Injective and Ripple

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!