SEC Acknowledges Solana ETF Applications
The SEC acknowledged several Solana Tuesday’s ETF file increased its chances of final approval. ETF analysts believe that Litecoin or Dogecoin ETF is more likely, but the SEC appears to be focusing on Solana.
Essentially, the most important consideration for ETF approval is whether the SEC classifies the token as Safety or product.
Solana ETF Approved Odds Jump
Tuesday, the Securities and Exchange Commission Announce The period of public comments by Canary Solana Trust, which is an ETF proposed by Canary Capital. The same is true for agents admit Similar applications of Vaneck, 21shares and Bitwise bring Solana Investment products closer to potential recognition.
The move begins a formal timetable for decision-making. The SEC has 21 days of approval, rejection or extension of review of these applications. although Delays are commonIndustry analysts believe that ETFs can be seen approving Solana and other Altcoins in 2024.
Yesterday, Bloomberg analysts predicted Litecoin and Dogecoin ETFs are more likely Get SEC approval before Solana and XRP. However, the SEC seems to focus on most of the Solana ETFs.
“Opportunity for our official altcoin ETF approval has gone. Litecoin leads with 90% chance, then Doge, then Solana and XRP. We only execute 33 ACT $IBIT type files. But it’s possible to see futures Or the ACT pieces of the Cayman-Subsidiary 40 Act can also be passed,” Eric Balchunas Write yesterday.
SEC has admit Grayscale Solana ETF app last week. Now, the important question is whether the committee will recognize other alternatives such as XRP or Dogecoin.
Meanwhile, other asset managers are prioritizing Solana. For example, Franklin Filed For Solana Trust earlier today, this could lead to ETF applications later.
In addition, changes have occurred in the Duoju market, Main forecast market. Currently, the community believes that 82% of Solana funds have been approved this year.
However, several other Altcoins are also online. For example, in addition to the first 10 tokens, AltCoins like Hedera have ETF applications with SEC. The committee is expected to view the assets on a case-by-case basis.
If in general Provide regulatory clarity about securities and commoditiesbatch approval may also be of several Altcoin ETFs. By then, Solana seems to be the current focus of the SEC.
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