With exchange-traded funds turning into a serious point of interest of the cryptocurrency sector in 2024, all eyes are on what belongings may observe Bitcoin and Ethereum to be the subsequent up. Rumors are flying that Solana SOL could possibly be the subsequent cryptocurrency to obtain ETF approval. Nevertheless, in response to Sol Methods 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 advised Blockworks in an interview. Wald additionally defined how the Solana ETF may see its first approval in Canada earlier than the US. “Canada has constantly led the way in which in ETF innovation, and I anticipate they’ll achieve this once more with a Solana ETF.”
Moreover, Ward additionally addressed the potential influence of Paul Atkins changing Gary Gensler as SEC Chair. She acknowledges that whereas the management change may result in a extra crypto-friendly regulatory setting, she cautioned towards dashing approvals. Due to this fact, it’s exhausting to replace any timetable for Solana SOL ETF approval.
Solana SOL: Potential ETF Approval Might Determine 2025 Success
2024 proved to be one of the necessary 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. Then again, Ethereum ETFs arrived a number of months later and proved to not characteristic the identical type of hype or success. Nevertheless, 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 subsequent crypto ETF. In keeping with asset supervisor VanEck, Solana may nonetheless be a potential subsequent nominee. The asset supervisor’s Head of Digital Asset Analysis, Matthew Sigel, has prompt {that a} Solana ETF is extra seemingly than not going to reach this 12 months. In a publish to X (previously Twitter), Sigel responded with a publish relating to Polymarket’s odds of an SOL ETF standing at 77%.
Sigel has beforehand stated {that a} Solana funding product has a “excessive chance” of being accredited in 2025. That inexperienced mild could be huge for SOL, which may mimic Bitcoin’s progress in 2024 following its ETF launch.
