Fun

Analyst tips Solana ETF deadline for mid-March after new filings

News Feed - 2024-07-09 10:07:52

Tom Mitchelhill7 hours agoAnalyst tips Solana ETF deadline for mid-March after new filingsBloomberg ETF analyst Eric Balchunas maintains that the outcome will likely be decided by whether Donald Trump is elected president in November.3396 Total views56 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksSpot Solana exchange-traded funds (ETFs) should receive a final decision from the United States SEC around the middle of March 2025 after the Chicago Board Options Exchange (CBOE) filed applications on Monday to list VanEck and 21Shares’ proposed ETFs. 


CBOE filed two Form 19b-4 applications on July 8, one for the 21Shares Core Solana ETF and another for the VanEck Solana Trust.


The CBOE likened the prospective Solana (SOL) funds to spot Bitcoin (BTC) and spot Ether (ETH) ETFs, which the SEC approved in January and May, respectively. It said that Solana’s decentralization, throughput and speed made it resistant to manipulation that could harm investors.


“Much like Bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that ‘other means to prevent fraudulent and manipulative acts and practices’ exist to justify dispensing with the requisite surveillance sharing agreement,” read both filings.The CBOE said much like Bitcoin and Ether, SOL would prove resistant to price manipulation. Source: CBOE


ETF analyst Nate Geraci said once the SEC acknowledges the filings, the “decision clock will start ticking.”


According to the SEC’s own rules, the agency will have 240 days to decide whether or not to approve the rule change necessary for CBOE to list the products from VanEck and 21Shares.Solana ETF outcome hangs on Trump vs. Biden


Senior Bloomberg ETF analyst Eric Balchunas warns that the likelihood of a Solana ETF approval from the SEC depends heavily on whether or not Donald Trump is elected as US president in November.


Related:$1M bug bounty for Solana Firedancer client goes live this week


“Looks like Solana ETFs are going to have a final deadline of mid-March 2025. But between now and then the most [important] date is in November,” Balchunas wrote in a July 9 post on X.Source: Eric Balchunas


Balchunas said that if President Joe Biden wins the election, the Solana ETFs will likely be “dead on arrival,” but if Trump wins, anything is possible.


In a June 27 research report, crypto market maker GSR Markets predicted the approval and subsequent launch of spot Solana ETFs in the United States could potentially drive up the price of SOL by a factor of nine.


X Hall of Flame:Ethereum’s recent pullback could be a gift — Dynamo DeFi# Cryptocurrencies# Altcoin# Business# Adoption# CBOE# Solana# ETFAdd reaction

News Feed

Old Dolomite exchange contract suffers $1.8M loss from approval exploit
Christopher Roark2 hours agoOld Dolomite exchange contract suffers $1.8M loss from approval exploitThe Ethereum version of Dolomite suffered a $1.8 million exploit, and the team is warning users to revoke approvals for t
Tristan Greene5 hours agoMeta launches community-licensed AI coding tool to the publicCode Llama is available for both personal and business use under the Llama2 community license agreement.806 Total views3 Total sharesL
Zksync Devs Plan to Launch Layer 3 Scaling Solution Called ‘Opportunity’ in Q1 2023
Zksync Devs Plan to Launch Layer 3 Scaling Solution Called "Opportunity" in Q1 2023 Matter Labs, the team behind the Ethereum layer two (L2) scaling protocol Zksync, revealed the d
Solana MACD Curling Up – Is This The Prelude To A Breakout?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin, Ethereum Technical Analysis: BTC Falls Below $30,000, Is 55% Below Its Record High
Bitcoin, Ethereum Technical Analysis: BTC Falls Below $30,000, Is 55% Below Its Record High Bitcoin plunged below $30,000 for the first time in eleven months, as bears continued to
Jesse Coghlan54 minutes agoBinance pushes new stablecoin as it confirms plan to cease BUSD supportPaxos has earlier said it will halt support of Binance"s stablecoin by February 2024, now the exchange has said it will al
Stablecoin Valuations Continue to Swell, MIM and MUSD Market Caps Increase by Triple-Digits in 30 Days
Stablecoin Valuations Continue to Swell, MIM and MUSD Market Caps Increase by Triple-Digits in 30 Days In mid-October, the market capitalization of all the stablecoins in existence
Future Of Bitcoin: Michael Saylor Envisions Market Cap Climbing To $200 Trillion
Este artículo también está disponible en español. In a recent interviewwith CNBC, Michael Saylor, co-founder of Strategy, reiterated his bullish outlook on Bitcoin (BTC),
El Salvador Buys 410 Bitcoins as BTC Plunges to Lowest Level in Months
El Salvador Buys 410 Bitcoins as BTC Plunges to Lowest Level in Months El Salvador bought the dip as the price of bitcoin plunged to a record low. President Nayib Bukele said Frida
April sees $25M in exploits and scams, marking historic low ― CertiK
Christopher Roark7 hours agoApril sees $25M in exploits and scams, marking historic low ― CertiKLosses from hacks and scams reached their lowest level since 2022 when CertiK first started recording the data, with flash
Crypto needs to remove friction for the next billion users: Coinbase
Zoltan Vardai7 hours agoCrypto needs to remove friction for the next billion users: CoinbaseConsumer apps could be another pathway toward mass crypto adoption, according to Coinbase’s senior director of engineering.160
Bitcoin Hashrate Hits New All-Time High — Can Price Reclaim $100,000?
Este artículo también está disponible en español. According to recent blockchain data, the Bitcoin hashrate has been on the rise as it touched a new all-time high on Frid