Journalist
Posted:
- The SEC is reviewing a number of Solana ETF purposes, signaling rising institutional curiosity.
- Analysts predict Litecoin and Dogecoin ETFs have larger approval possibilities than Solana and XRP.
The U.S. Securities and Alternate Fee (SEC) is now reviewing a number of purposes for Solana [SOL] exchange-traded funds (ETFs).
With corporations like Canary Capital, VanEck, 21Shares, and Bitwise coming into the race, curiosity in bringing SOL to Wall Road is gaining momentum.
Seeing this rising hype, market watchers are carefully monitoring whether or not Solana may comply with within the footsteps of Bitcoin [BTC] and Ethereum [ETH] ETFs.
Supply: SolanaFloor/X
Solana ETF acknowledged by Grayscale
For these unaware, the race to launch a Solana ETF started when the SEC acknowledged Grayscale’s Solana ETF utility final week.
This recognition positioned Grayscale as a possible frontrunner in a wave of SOL-focused proposals.
The regulator has now opened a 21-day public remark interval on NYSE Arca’s proposal to record and commerce the Grayscale Solana Belief, marking a vital step within the approval course of.
In the meantime, Franklin Templeton registering the “Franklin Solana Belief” in Delaware on the tenth of February, suggesting the asset supervisor is getting ready to enter the SOL ETF market.
Polymarket and worth development
This has resulted in sturdy market sentiment round a possible SOL ETF approval in 2025. Polymarket knowledge displays an 83% likelihood of approval.
This rising optimism comes amid latest worth fluctuations, as SOL was buying and selling at $195.73, at press time.
The coin suffered a 4.47% decline over the previous 24 hours, in keeping with CoinMarketCap.
Regardless of short-term volatility, the rising chance of regulatory approval suggests institutional demand for Solana-based funding merchandise may speed up, doubtlessly influencing SOL’s long-term market trajectory.
Seeing this hype round SOL ETF, James Seyffart noted,
“Replace: As anticipated. SEC is acknowledging extra Solana filings. The vital ones shall be in the event that they acknowledge XRP & Doge filings.”
Different altcoin ETFs in pipeline
Whereas Bloomberg analysts instructed that Litecoin [LTC] and Dogecoin [DOGE] ETFs stand a greater likelihood of SEC approval earlier than SOL and Ripple [XRP], latest developments point out a shifting regulatory focus.
As regulatory momentum builds, the approval timeline for crypto ETFs stays unsure.
Nevertheless, the heightened consideration on Solana suggests it may play a pivotal position in shaping the following part of institutional crypto adoption.
Remarking on the identical, Eric Balchunas put it greatest when he said,
“Our official altcoin ETF approval odds are out. Litecoin leads with a 90% likelihood, then Doge, adopted by Solana and XRP. We’re solely doing 33 Act $IBIT-esque filings. However it’s attainable to see futures or Cayman-subsidiary kind 40 Act stuff get by means of as effectively,”
