The US Securities and Exchange Commission (SEC) has approved Grayscale’s Solana ETF filing.
This comes as an unexpected move after the SEC asked CBOE to withdraw similar filings just six weeks ago.
ETF expert James Seyfart described the move as a positive sign, noting that it could reflect a shift in the SEC’s stance on cryptocurrencies, especially after the leadership change.
Bloomberg’s senior ETF analyst Eric Balchunas expressed a similar view, calling the move a notable, if small, development.
The SEC had previously filed lawsuits against Binance and Coinbase for listing Solana and Cardano as unregistered securities, leading some analysts to expect Solana’s ETF approval to be delayed until 2026.
However, Grayscale’s approval of the filing marks the beginning of a lengthy regulatory process, with the SEC now having 240 days to approve or reject it.
In another development, CBOE has filed XRP ETF applications on behalf of Bitwise, Canary Funds, WisdomTree, and 21Shares, reflecting a broader move toward recognizing cryptocurrencies in regulated financial products. While approval is still not guaranteed, the SEC’s recent involvement in the Litecoin ETF proposals points to a more positive environment for such products going forward.
Posted using Tribaldex Blog
