With exchange-traded funds changing into a significant focus 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 might be the subsequent cryptocurrency to obtain ETF approval. Nevertheless, in keeping with Sol Methods CEO Leah Wald, there could also be delays within the ETF getting approval within the close to future.
Certainly, in keeping with 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 accepted,” she instructed Blockworks in an interview. Wald additionally defined how the Solana ETF may 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 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 surroundings, she cautioned in opposition to dashing approvals. Subsequently, it’s laborious to replace any timetable for Solana SOL ETF approval.
Solana SOL: Potential ETF Approval Might 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 focus 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 characteristic the identical type of hype or success. Nevertheless, that has not deterred the market from anticipating what asset might be the main focus of an funding automobile subsequent.
A number of asset managers and ETF specialists say that the market is optimistically awaiting the subsequent crypto ETF. In response to asset supervisor VanEck, Solana may nonetheless be a potential subsequent nominee. The asset supervisor’s Head of Digital Asset Analysis, Matthew Sigel, has recommended {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 stated {that a} Solana funding product has a “excessive likelihood” of being accepted in 2025. That inexperienced mild can be huge for SOL, which may mimic Bitcoin’s development in 2024 following its ETF launch.
