Analyst recommends Solana ETF deadline for mid-March after new filings.
Spot Solana Exchange-Traded Funds (ETFs) The Chicago Board Options Exchange (CBOE) will see a final decision deadline of mid-March next year after VanEck and 21Shares filed an application to list the ETFs on Monday.
CBOE filed two Form 19b-4 filings on July 8, one for the 21Shares Core Solana ETF and another for the VanEck Solana Trust.
In January and May, CBOE compared Solana currency futures to the SEC-approved Bitcoin and Ether ETF. Solana says its decentralization, ease of use and speed make it vulnerable to scams that could harm investors.
“Like Bitcoin and ETH, the exchange believes that SOL is resistant to price manipulation and ‘other mechanisms to prevent fraudulent and fraudulent acts and practices' to justify the required monitoring sharing agreement,” read both documents.
Once the SEC receives the filing, “the decision clock starts ticking,” said Nate Gerasi, an analyst at EFF.
Under the SEC's own rules, the agency will have 240 days to approve or disapprove the rule change that would allow the CBOE to list VanEck and 21Shares products.
Solana ETF results in Trump vs. Hanging on to Biden.
Senior Bloomberg ETF analyst Eric Balchunas cautioned that the chances of Solana ETF approval from the SEC will depend heavily on whether Trump is elected president of the United States in November.
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“The Solana EFF looks like they're going to get a deadline of mid-March 2025. But between now and then there's a lot. [important] The date is in November,” Balchunas wrote in a July 9 post for X.
Balchunas said the Solana ETFs will be “dead on arrival” if Biden wins the election, but if Trump wins, anything is possible.
In a research report on June 27, crypto market maker GSR Markets predicted that the approval and launch of Solana exchange-traded funds (ETFs) in the United States could increase the price of SOL by nine times.
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