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Today, VanEck made a historic move in the ETF industry by applying to the SEC for the first Solana ETF in the USA.
In its application to the SEC, VanEck argued that Solana (SOL) was a commodity.
Following this move by VanEck, it was evaluated that many companies such as VanEck may apply for SOL ETF in the coming days, and the first comment came from Bloomberg senior ETF analyst James Seffart.
At this point, Bloomberg ETF analyst James Seyffart said that Solana ETFs could be approved in 2025.
Stating that there is currently only an S-1 application for SOL ETFs and no 19b-4 application, Seyffart stated that if the 19b-4 application comes today, the deadline for SOL ETFs will be around mid-March 2025.
“The first SOL ETF application has been made in the USA. It will be interesting to see whether other issuers will immediately follow this application.
Initial thoughts are that SOL ETFs will only have a chance to launch in 2025 if we have a new administrator in the White House and SEC.
There is no deadline yet because this application is currently just an S-1. I don't see a 19b-4 filing yet that would give us an idea of the deadline. “If they file a 19b-4 today, the deadline will be around mid-March 2025.”
SOL, which rose after the VanEck application and exceeded $ 150, continues to be traded at $ 149.7 at the time of writing.
First SOL ETF filing in the U.S. Will be interesting to see if other issuers immediately follow suit. Early thoughts are that this only has a shot to launch sometime in 2025 if we have a new admin in the White House and SEC. Even then not guaranteed. https://t.co/I1yoWNpdd4
— James Seyffart (@JSeyff) June 27, 2024
*This is not investment advice.