With the changing regulatory landscape and increasing market demand for digital asset products, the launch of a Solana ETF appears to be on the horizon. Recently, equity exchange Cboe BZX filed four applications for spot Solana ETFs, with proposals from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital. Bloomberg Intelligence ETF analyst James Seyffart highlighted that these applications mark a significant step forward for the Solana ETF, with a potential decision by the SEC expected around early August 2025.
Nate Geraci, President of The ETF Store, expressed optimism about the potential approval of Solana ETFs, stating that it is highly likely that they will be approved by the end of next year. The news of SEC Chairman Gary Gensler’s resignation effective January 20, 2025, has also fueled speculation of a more supportive environment for digital asset innovation.
Recent reports indicate that talks between SEC staff and issuers interested in launching a Solana spot ETF are progressing well, with the SEC engaging on S-1 applications. While this development increases the chances of approval in 2025, there is no guarantee of a green light from the SEC. However, many Solana supporters remain confident, especially with Gensler’s impending departure.
VanEck’s Head of Digital Asset Research, Matthew Sigel, shares Geraci’s optimism, stating that there is a good chance of a Solana ETF being traded by the end of next year. Additionally, Geoffrey Kendrick, global head of digital assets research at Standard Chartered, believes that a Solana ETF approval is more likely under a Trump administration.
Solana (SOL) recently reached a new all-time high, trading at $264.31 on Coinbase Inc. The token has experienced an 18% increase in the past week and a remarkable 160% rise since the beginning of 2024. With a market cap of $123 billion, representing about 4% of the total crypto market, SOL has garnered attention from market analysts who have set a price target of $400, now that it has surpassed its previous all-time high of $260.
As the digital asset market continues to evolve, the potential approval of a Solana ETF could further propel the growth and adoption of this innovative blockchain platform.