The year 2023 could mark the beginning of a golden era for cryptocurrencies. Donald Trump, the new US president, promises to reshape the financial landscape with a more flexible and dynamic approach. However, regulatory hurdles and difficulties in approving Solana-based ETFs hinder progress.
Headwinds for Solana ETFs
Solana-based ETFs are not yet ready to debut on Wall Street. Despite the new administration's favorable stance towards the crypto industry, Bloomberg Intelligence analyst James Seyffart remains doubtful about their arrival before 2026. Key issues include the lengthy SEC review process, Solana's disputed status as an unregistered security, and divided analyst opinions on potential approval timelines.
Crypto Regulation: A Strategic Turning Point
Under Joe Biden, the SEC has demonstrated its rigidity towards the crypto industry with hundreds of lawsuits. However, Trump's new administration aims to turn the United States into the global capital of crypto, promising drastic changes.
The Chess Game with Crypto's Future
The market remains cautious regarding the future of crypto ETFs. Past achievements by Bitcoin and Ethereum have not resulted in notable advances for alternative cryptocurrencies. Amidst uncertain political circumstances, analysts view ETF proposals as 'call options' on Trump's long-term victory.
The struggle for crypto ETF approval continues. Investors keenly track the dynamics and regulatory changes as the balance between hope and restrictions persists.
