SEC Moves Toward Solana ETF Approval Amid Pro-Crypto Shift
The SEC is quietly meeting with several issuers to discuss approval Solana Fox Business News reporter Eleanor Terrett said that ETFs. With Trump on the verge of taking office to support cryptocurrencies, the SEC seems more inclined to approve such products.
However, anti-crypto figure Gary Gensler is still nominally in charge of the SEC, and public progress may not begin until 2025.
Solana ETF approval getting closer
according to a scoop Fox Business News reporter Eleanor Terrett said the U.S. Securities and Exchange Commission (SEC) and several ETF issuers are working on Approval of Solana ETF. Currently, Brazil is the only country with Give this product the green light. As recently as September, Polymarket odds provided the SEC with The likelihood of approval is slim, only 3%. However, this reluctance may soon change:
“Negotiations between SEC staff and issuers looking to launch Solana spot ETFs are “making progress,” with the SEC currently processing S-1 applications. Recent staff involvement, coupled with the incoming pro-crypto administration, is Sparking renewed optimism that the Solana ETF could be approved sometime in 2025, Terrett claimed.
Tretter is well aware of the impetus for this progress in negotiations: Donald Trump’s re-election. On the campaign trail, Trump vowed: Dramatic Reform of U.S. Cryptocurrency Policya cornerstone is burning Anti-Cryptocurrency SEC Chairman Gary Gensler. Gensler has apparently admitted he was about to be deportedhis successor will undoubtedly bring support to the industry.
Previous attempts failed early in the process. Once the SEC formally acknowledges an application, it must confirm or deny it within 240 days. Previous filing documents include wander It’s currently in limbo. However, the list of candidates is now growing: Canary Capital Apply for Solana ETF October, and BitWise did the same thing earlier today.
Still, these active talks remain nothing more than anonymous rumors. The committee has yet to publicly launch the process, and Gensler remains nominally in charge. Terrett believes the SEC will only make significant progress on the Solana ETF in early 2025. However, this is a radical change from previous pessimism.
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