Here is When We Can Expect the Approval of Spot Solana ETFs

On July 8 VanEck and 21Shares filled two Form 19b-4 applications to Chicago Board Options Exchange (CBOE) for their Solana ETFs.

The filings assert that Solana, like Bitcoin and Ethereum, is resistant to price manipulation.

The SEC has 240 days to decide on these applications, with a final deadline likely around mid-March 2025. Eric Balchunas, a Bloomberg ETF analyst, suggests the outcome of the U.S. presidential election will significantly impact the approval chances.

He believes the Solana ETFs might be rejected if Biden wins but could go either way if Trump is elected.

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The cryptocurrency market is showing signs of recovery, with Solana (SOL) experiencing a notable 5% increase in the past 24 hours, outperforming other assets. At the time of writing SOL is trading at $143.2.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.