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.

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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.