Could Solana Be the Next Altcoin to Score a U.S. ETF Approval?

Following Bitcoin's spot ETF success and Ethereum's ETF approval, could Solana be the next altcoin to gain U.S. approval?

Matthew Sigel from VanEck believes there’s a high chance that a Solana exchange-traded fund (ETF) will be approved in the U.S. by 2025. He attributes this to a likely shift in SEC policy under President Trump’s administration, which he expects to lead to more approvals for crypto products. Sigel anticipates a Solana ETF by the end of 2024.

Following Trump’s victory, over a dozen crypto ETF proposals, including those for Solana, XRP, and Litecoin, are awaiting approval. This includes filings for crypto index ETFs. Analysts view these filings as a bet on Trump’s pro-crypto stance, which is expected to replace Biden’s more stringent regulatory approach.

Trump has not announced a new SEC chair yet, but Summer Mersinger is rumored to be under consideration for the CFTC chair. Recently, the SEC began reviewing Grayscale’s proposal for an ETF that holds various cryptocurrencies, signaling potential shifts in regulation.

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Industry leaders, including Bitwise’s Matt Hougan, are optimistic that the regulatory environment will improve significantly under Trump, potentially leading to substantial market growth.

Source

Alexander Stefanov