CandleFocus Solana ETF Approval Odds Plunge to Just 3%
2024-09-19
Author: Content Editor
Polymarket, a decentralized prediction market platform, has lowered the probability of a Solana exchange-traded fund (ETF) to just 3%, the lowest it has ever been. Despite the low chances, some experts are still optimistic about the long-term prospects of a Solana ETF. The ideal form of regulatory changes needed for the approval of a Solana ETF is still up for debate. The SEC's approval of ETFs for Bitcoin and Ethereum in the same year has led many to believe that Solana could be a viable candidate for the third spot. However, some experts, like Nate Geraci, believe that the current administration makes it unlikely that a Solana ETF will be approved in the next year or two. On the other hand, Matt Hougan is more optimistic and believes that regulatory uncertainty will be resolved over time, opening the door for Solana ETF approvals. Bitwise, a leading cryptocurrency asset manager, is actively working towards this goal with a focus on data and the robustness of the Solana ecosystem.
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