CandleFocus SEC signals it would reject spot Solana ETF filings and pause new crypto ETF approvals
2024-12-06
Author: Content Editor
The Securities and Exchange Commission (SEC) has reportedly informed at least two prospective ETF issuers that it will reject their applications for a Solana ETF. Sources suggest that the SEC is unlikely to approve any new crypto ETFs under the current administration. This news comes as multiple asset managers seek approval for Solana-based investment products, demonstrating industry-wide interest in bringing these investment vehicles to market. The SEC's position not only affects Solana ETF applications but also a broad range of anticipated crypto ETF applications, including those tracking SOL and XRP. The regulator has previously expressed concerns about Solana's potential classification as a security, which could impact the ETF approval process. In August, the SEC rejected Cboe BZX's filings for two Solana spot ETFs for similar reasons.
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