With exchange-traded funds changing into a significant point of interest of the cryptocurrency sector in 2024, all eyes are on what belongings might comply with Bitcoin and Ethereum to be the following up. Rumors are flying that Solana SOL could possibly be the following cryptocurrency to obtain ETF approval. Nonetheless, in response to Sol Strategies CEO Leah Wald, there could also be delays within the ETF getting approval within the close to future.
Certainly, in response to Wald, she anticipates delays in US approval of a Solana ETF, citing regulatory challenges. “I believe there’s fairly some time till a SOL ETF will get accredited,” she informed Blockworks in an interview. Wald additionally defined how the Solana ETF might see its first approval in Canada earlier than the US. “Canada has persistently led the best way in ETF innovation, and I anticipate they’ll achieve this once more with a Solana ETF.”
Moreover, Ward additionally addressed the potential impression of Paul Atkins changing Gary Gensler as SEC Chair. She acknowledges that whereas the management change might result in a extra crypto-friendly regulatory setting, she cautioned in opposition to speeding approvals. Subsequently, it’s onerous to replace any timetable for Solana SOL ETF approval.
Solana SOL: Potential ETF Approval May Determine 2025 Success
2024 proved to be some of the vital years within the historical past of cryptocurrencies. The asset class took a lot of the highlight and have become a transparent point of interest for funding. That was no clearer seen than within the arrival of Spot Bitcoin ETFs in January. Alternatively, Ethereum ETFs arrived a number of months later and proved to not function the identical form of hype or success. Nonetheless, that has not deterred the market from anticipating what asset could possibly be the main focus of an funding automobile subsequent.
A number of asset managers and ETF consultants say that the market is optimistically awaiting the following crypto ETF. In line with asset supervisor VanEck, Solana might nonetheless be a doable subsequent nominee. The asset supervisor’s Head of Digital Asset Analysis, Matthew Sigel, has advised {that a} Solana ETF is extra doubtless than not going to reach this yr. In a submit to X (previously Twitter), Sigel responded with a submit relating to Polymarket’s odds of an SOL ETF standing at 77%.
Sigel has beforehand mentioned {that a} Solana funding product has a “excessive likelihood” of being accredited in 2025. That inexperienced mild could be huge for SOL, which might mimic Bitcoin’s progress in 2024 following its ETF launch.
