Solana ETF Applications Face Setback as SEC Signals Denial

SEC Signals Rejection of Solana ETF Applications Amid Regulatory Concerns

Applications for spot Solana ETFs are expected to be denied by the US Securities and Exchange Commission. Eleanor Terrett of Fox News said that the agency has informed at least two of the five issuers requesting clearance for a Solana ETF.

The consensus here, I’m told, is that the SEC won’t entertain any new crypto ETFs under the current administration,

Terrett

What does Trump’s Victory and New SEC Leadership Mean for Solana ETFs?

In an attempt to give investors direct access to the Solana market, a number of asset management companies have lately applied for SOL ETFs. On June 27, VanEck was the first asset manager to file a 19b-4 application with the agency. 21Shares followed on June 28, and Canary Capital did so in late October. Bitwise and Grayscale also filed for the SOL fund after Donald Trump won the presidential election on November 6.

Companies may still apply for approval under the agency’s forthcoming new leadership, even if a refusal would cause applications to be delayed. Trump fulfilled one of his campaign pledges to replace incumbent Chair Gensler when he chose crypto policy specialist Paul Atkins to lead the SEC on December 4. Terrett believes that SOL ETFs will be treated the same way as Bitcoin ETFs, with issuers getting approval on the same day.

The SEC won’t approve just one or a couple and not the others. Remember the bitcoin ETFs? Eleven launched on the same day.

Terrett

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