- Unlikely Future of Solana ETF
- Impact of Trump's Victory on Solana ETF
- Nate Geraci's Comments and Brazil's Experience
Bloomberg Express analysts have expressed skepticism about the potential launch of a spot ETF for Solana in the near future based on the current SEC approval status of CBOE's 19b-4 filing.
Unlikely Future of Solana ETF
Bloomberg's ETF analyst Eric Balchunas doubts the near-term approval of a spot ETF for Solana. According to him, CBOE filed a 19b-4 application for a Solana ETF on July 8, but the SEC refused to publish this application on its website, leading to its withdrawal. However, S-1 filings from potential Solana ETF issuers remain active.
Impact of Trump's Victory on Solana ETF
In an X post, Balchunas asserted that the chance of approval is 'slightly above zero' unless there's a change in SEC leadership. He believes the only hope is Donald Trump winning the upcoming presidential elections. Balchunas thinks that if Trump wins, he may change the leadership of several federal agencies, including the SEC. During the Bitcoin 2024 Conference, Trump promised to fire SEC Chair Gary Gensler on the first day in office if elected.
Nate Geraci's Comments and Brazil's Experience
Nate Geraci, President of the ETF Store, also shared his views on Solana ETF. He noted that the only viable path for spot Solana ETF approval is implementing a legitimate regulatory framework for cryptocurrencies that clearly defines which assets are securities and which are commodities. In Brazil, unlike other countries, a second spot Solana ETF has already been approved. The regulator CVM has allowed Hashdex to offer a new Solana spot ETF in collaboration with investment bank BTG Pactual.
Thus, the prospect of Solana ETF approval in the US remains highly unlikely for now. Many analysts believe only considerable political changes can alter the situation.
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