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.

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.