SEC Moves Forward with Solana and Litecoin ETF Filings

The US SEC has taken a significant step by accepting filings from the NYSE to list Grayscale’s Solana and Litecoin ETFs, which could mark a turning point for crypto asset regulation.

This decision, announced on February 6, opens a 21-day window for public feedback, and comes at a time when digital asset ETFs are increasingly gaining attention due to shifts in the regulatory landscape.

This move is especially notable for Solana, as it represents the first time the SEC has considered an ETF for the cryptocurrency, after rejecting similar attempts in the past. Analysts are suggesting that this could signal a more favorable approach from the SEC, particularly given Solana’s previous classification as a security.

With Gary Gensler no longer heading the SEC, many expect the new leadership to adopt a more crypto-friendly stance, reflected in the growing number of ETF filings. Experts are optimistic that decisions on these applications could be made by October 11.

Alongside the Solana ETF filing, the SEC has also recognized a filing for Grayscale’s Litecoin ETF, the second such acknowledgment for the cryptocurrency. While regulatory approval remains distant, this development is seen as a promising sign for the future of Litecoin ETFs.

The broader context of this progress also includes the SEC’s acknowledgment of Nasdaq’s filing to allow in-kind transactions for the iShares Bitcoin Trust ETF, a move described as long overdue by industry observers. While these filings show progress, the final approval for crypto-based ETFs still hinges on future regulatory decisions, which could potentially be influenced by the SEC’s new leadership.