Bloomberg Analyst Predicts Solana ETF To Launch In 2025

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As a seasoned crypto investor with a keen eye on market trends and regulatory developments, I find VanEck’s filing for a Solana ETF an intriguing development. While it’s exciting to see more altcoins gaining traction in the ETF space, I share James Seyffart’s skepticism regarding the timeline for approval.

According to James Seyffart, a seasoned ETF analyst at Bloomberg, it’s possible that a Solana exchange-traded fund (ETF) could emerge as early as 2025.

VanEck Files for Solana ETF

As an analyst, I’m sharing that VanEck, a well-known investment asset management firm and Bitcoin ETF issuer, has taken the first step towards launching a Solana Exchange-Traded Fund (ETF) in the US by filing a Form S-1 with the Securities and Exchange Commission (SEC). This makes VanEck the pioneer of this proposed rule change application in the country. Intriguingly, just a week prior to this, Canadian investment firm 3iQ Corp announced its intention to offer a Solana fund named QSOL through a preliminary prospectus submission in Canada.

Matthew Sigel, who leads Digital Assets Research at VanEck, points out that Solana shares some key functions with Bitcoin and Ethereum, both of which have been given the green light by the SEC to be used in Exchange-Traded Funds (ETFs).

As an analyst, I find Seyffart’s perspective on this new development intriguing. He wonders if other issuers might take a similar approach. However, I concur with his assessment that the approval process is unlikely to be completed before 2025 at the earliest.

The first filing for an ETF based on the Solana cryptocurrency in the United States is noteworthy. It remains to be seen if other issuers will swiftly follow this move. Preliminary assessments indicate that the launch of this ETF could potentially occur around 2025, provided there’s a change in administration and SEC approval. However, it’s essential to note that this is not guaranteed.

— James Seyffart (@JSeyff) June 27, 2024

As a crypto investor, I’ve noticed the buzz surrounding the potential approval of a SOL ETF (Solana Exchange-Traded Fund). However, it is essential to acknowledge that there is no certainty in this matter. According to my analysis as a Bloomberg follower, I believe that a shift in the White House leadership and possibly the Securities and Exchange Commission (SEC) administration could be crucial factors in bringing the SOL ETF to fruition.

Chorus Rise on Spot Solana ETF

As a crypto investor, I’ve been keeping a close eye on the buzz surrounding potential Solana ETFs. The intensity of the discussions heightened when several asset managers filed for spot Ethereum ETFs. With the chances of approval for these Ethereum ETFs reaching 70%, many market experts started to believe that Ethereum, being the second largest cryptocurrency by market capitalization, would set the precedent for other altcoins such as Solana. In fact, Daniel Yan, co-founder of Matrixport, expressed his view at the time that Solana could potentially be the crypto to gain from the approval of a spot Ethereum ETF.

Following the SEC’s approval of spot Ethereum ETFs on May 23, industry insiders have shifted their focus towards the potential development of Solana ETFs. Anthony Scaramucci, founder of SkyBridge Capital, announced that they would begin working on securing approval for a spot Solana ETF. The clamor for such an instrument has only intensified.

Following Seyffart’s suggestion, other asset management companies such as BlackRock, Grayscale, Franklin Templeton, Fidelity, Bitwise, and more might be encouraged by VanEck’s filing to enter the SOL ETF market.

An XRP exchange-traded fund (ETF) could become a reality soon, according to Ripple President Monica Long’s recent statements. In an interview with CNBC, Long expressed her belief that an XRP ETF would be a logical next step, considering the increasing regulatory clarity regarding XRP and Bitcoin in the United States.

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2024-06-27 18:38