With regulations and market dynamics changing in favor of digital asset products, the launch of a Solana ETF appears to be on the horizon soon.
Stock exchange Cboe BZX submitted four applications for spot Solana ETFs on Thursday, with proposals from VanEck, 21Shares, Bitwise Asset Management and Canary Capital. Bloomberg Intelligence ETF analyst James Seyffart noted that the filings are a significant step forward for the Solana ETF and noted that if the SEC accepts the filings, the final deadline for a decision could be around early August 2025.
SOL ETF Approval Highly Likely: Nate Geraci
Notably, ETF Store President Nate Geraci expressed optimism about these developments, saying, “It appears the SEC is in discussions with issuers about this product, which is a positive sign.” He thinks it is very likely that Solana ETFs will be approved by the end of next year.
The optimism surrounding Trump, coupled with news of SEC Chairman Gary Gensler’s resignation effective January 20, 2025, has fueled speculation about a more supportive environment for digital asset innovation.
Recently, Fox Business’s Eleanor Terrett shared in a recent
While the new development suggests a higher chance of the product being approved in 2025, it does not guarantee that the SEC will give the green light. However, most Solana proponents are confident given the departure of SEC Chairman Gensler in January 2025.
Increasing optimism around SOL ETF
Notably, VanEck’s Head of Digital Asset Research Matthew Sigel is also optimistic about the Solana ETF timeline, as he “thinks there is a very good chance that a Solana ETF will start trading late next year.”
Geoffrey Kendrick, global head of digital asset research at Standard Chartered, also said the approval of a Solana ETF is more likely under the Trump administration.
SOL recently hit a new all-time high on Friday morning, trading at $264.31 on Coinbase Inc. The token gained 18% last week and continued its strong performance in 2024 with a 160% increase since the beginning of the year. It currently has a market capitalization of $123 billion, approximately 4% of the total crypto market.
Market analysts are bullish on Solana’s continued rise and set a $400 price target now that Solana has surpassed its previous all-time high of $260.