“Crypto-friendly US policies and the success of Bitcoin and Ethereum exchange-traded funds indicate that spot Solana-ETFs will emerge within the next year. Oleksandr Blum, CEO of The Block Two Prime Digital Assets, told about it. “[Великі емітенти] they would not waste time and money if they were not sure of success. […] Access of institutions and retail investors to cryptocurrency through ETFs through regulated financial channels in banks and exchanges […]”, — write: businessua.com.ua
Crypto-friendly US policies and the success of Bitcoin and Ethereum exchange-traded funds indicate that spot Solana-ETFs will emerge within the next year. About Oleksandr Blum, CEO of Two Prime Digital Assets, told The Block.
“[Великі емітенти] they would not waste time and money if they were not sure of success. […] Institutional and retail investors’ access to cryptocurrency through ETFs through regulated financial channels in banks and exchanges opens capital pools that did not exist before,” Blum emphasized.
On November 21, the Chicago Options Exchange sent a SEC applications to launch SOL-ETFs from VanEck, 21Shares, Canary Funds and Bitwise Asset Management. According to the expert, the regulator is already studying their S-1 forms, and therefore, the deadline for the decision is set at the beginning of August 2025.
Bloomberg stock analyst James Seyfarth also believes that the launch of Solana-ETF by the end of 2025 is possible.
Factors for growing optimism about exchange-traded funds were, in particular, personnel changes in the US government and the quick departure of Gary Gensler from the post of SEC chairman.
Matthew Siegel, head of digital asset research at VanEck, believes that under the new leadership, the Commission will approve more crypto products than in the last four years.
Austin Reed, head of revenue at crypto brokerage FalconX, called the launch of the Solana-ETF an important milestone for the ecosystem and a signal of major changes in the entire crypto industry.
The launch of Solana ETFs will be a massive milestone for the SOL ecosystem + also signals a major shift for the entire crypto industry.
Beyond new single-asset funds, regulatory clarity will pave the way for actively managed products + new basket ETFs – both of which will… https://t.co/vIEaaEb3iw
— Austin Reid (@austinreid21) November 22, 2024
“In addition to new single-coin funds, regulatory clarity will pave the way for actively managed products and new ‘basket ETFs,’ both of which will open up new channels of institutional liquidity,” he added.
Against the background of the news of the submission of bids, the price of SOL rose significantly and broke the all-time high of $264. At the time of writing, the coin is trading around $254.
Coinbase SOL/USDT hourly chart. Source: TradingView.
We will remind you that on November 18, the daily volume of commissions in the Solana blockchain reached a record high of $9.3 million.
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