Can we witness a Solana ETF appearing on the US market by the end of 2025? The signs are becoming clearer.
Last Thursday, the Cboe BZX Exchange filed four applications for Solana ETFs, with proposals from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital. The US Securities and Exchange Commission (SEC) is said to be "engaging" with these S-1 filings. According to Bloomberg Intelligence ETF analyst James Seyffart, the final deadline - if the SEC accepts - will be around early August 2025.
Regulatory changes have occurred since Election Day (11/5), as President-elect Donald Trump and Congress prepare to take office with the most crypto-friendly stance to date. The resignation of Gary Gensler, who has been at odds with the industry, has brought more optimism to crypto supporters.
"I believe there is a high probability that Solana ETFs will be approved by the end of next year, at the latest," Nate Geraci, President of The ETF Store, told The Block. "The SEC is clearly engaging with these product issuers, which is a positive sign."
With industry leaders like Bitwise filing, Alexander Blume, CEO of Two Prime Digital Assets, agrees with this view.
"They wouldn't waste time and money doing this if they didn't think they would succeed," Blume told The Block. He believes the success and precedent set by Bitcoin and Ethereum ETFs, along with a more crypto-friendly government and regulatory environment, will lead to the launch of a Solana ETF next year.
"The ability for both institutions and individual investors to access crypto through ETFs via traditional financial channels, managed at banks and exchanges, opens up capital sources that didn't exist before," Blume noted. "This is like replacing a small pipe with a fire hose, and means the growth trajectory and speculative trading could have an even bigger impact."
This past week, Bitcoin ETFs have reached a cumulative net inflow of over $30 billion for the first time since their launch in January. The total capital flow across the entire ETF ecosystem has recently surpassed the $913 billion mark, breaking the previous record set in 2021.
"It was the SEC under Gary Gensler that broke the long-standing tradition of rule-based, prescriptive guidance through enforcement," Matthew Sigel, Head of Digital Assets Research at VanEck, told the Financial Times on November 15. "Reverting to a disclosure-based system will create more opportunities for innovation in this space... I think there is a very high likelihood of a Solana ETF trading by the end of next year."
Gensler announced on Thursday that he will resign as SEC Chair on January 20, 2025, the same day Trump will take office. This news has provided further momentum to crypto markets, as the Bitcoin price continues to reach new ATHs on its way to the $100,000 milestone.
Meanwhile, the price of SOL, the native token of the Solana blockchain, has surpassed its previous ATH of $259.96 set at the end of 2021.
"The launch of Solana ETFs will be a significant milestone for the SOL ecosystem and also signal a major shift for the entire crypto industry," Austin Reid, Global Head of Revenue at crypto brokerage FalconX, said in a post on X. "Beyond new single-asset funds, regulatory clarity will pave the way for actively managed products and new basket ETFs - both of which will open up new institutional liquidity channels."
Solana is currently trading around $255. The token has gained over 50% in the past month and is up 147% YTD.
You can view the SOL price here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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Thạch Sanh
According to The Block
