Recently, the SEC rejected Solana ETF applications filed by Cboe BZX. This decision caused a wide resonance in the cryptocurrency community and raised many questions about the future of ETFs for Solana.
Solana ETF Applications Rejected
The SEC rejected the Solana ETF applications filed by Cboe BZX on behalf of two potential ETF issuers. The 19b-4 filings were removed from the CBOE website.
Bloomberg Analyst's Opinion
Bloomberg ETF analyst Eric Balchunas discussed the possibility of future approval. He noted that the Solana ETF application stalled in the second phase of the filing process. Balchunas mentioned that the chances of approval in 2024 are zero.
Future Prospects
According to Balchunas, approval in 2025 depends on the US election results. If Kamala Harris wins the election, the chances remain close to zero. The analyst pointed out that the only hope for Solana ETFs is if Donald Trump wins.
Despite the current rejection, the further development of the Solana ETF situation will depend on political factors and the US elections.
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