Krutika Adani
The SEC has effectively halted the approval process of Solana ETFs after rejecting two Cboe-led filings.
The SEC had always taken considerable time to approve the ETF and is supposed to do so even now. Further, the upcoming US elections might delay the approvals.
Solana would be the first altcoin ETF after Bitcoin and Ethereum, making it difficult for the SEC to reject other altcoin ETF applications since the regulator has always maintained Solana’s status as a security.
VanEck and 21 Shares remain the two Solana ETF applicants till date.
In addition to the US elections, the appointment of a new SEC chief in 2025 will play a critical role, which is expected in the case of a Republican win.