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 following up. Rumors are flying that Solana SOL could possibly be the following cryptocurrency to obtain ETF approval. Nonetheless, based on Sol Methods CEO Leah Wald, there could also be delays within the ETF getting approval within the close to future.
Certainly, based on Wald, she anticipates delays in US approval of a Solana ETF, citing regulatory challenges. “I feel there’s fairly some time till a SOL ETF will get accepted,” she informed 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 accomplish that once more with a Solana ETF.”
Moreover, Ward additionally addressed the potential affect 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 in opposition to speeding approvals. Subsequently, it’s onerous to replace any timetable for Solana SOL ETF approval.
Solana SOL: Potential ETF Approval May Resolve 2025 Success
2024 proved to be some of the essential 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. Alternatively, Ethereum ETFs arrived a number of months later and proved to not function the identical form of hype or success. Nonetheless, that has not deterred the market from anticipating what asset could possibly be the main target of an funding automobile subsequent.
A number of asset managers and ETF consultants say that the market is optimistically awaiting the following crypto ETF. In response to asset supervisor VanEck, Solana may nonetheless be a attainable subsequent nominee. The asset supervisor’s Head of Digital Asset Analysis, Matthew Sigel, has steered {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 likelihood” of being accepted in 2025. That inexperienced gentle can be huge for SOL, which may mimic Bitcoin’s progress in 2024 following its ETF launch.
