📣 SEC Set to Reject Solana Spot ETF Applications?
postedĀ 6 Dec 2024
The SEC may decline Form 19b-4 submissions from at least two out of five potential issuers of Solana (SOL) spot ETFs.
Eleanor Terrett of Fox Business reported:
The consensus here, Iām told, is that the SEC wonāt entertain any new #crypto ETFs under the current administration.
When asked whether even one Solana ETF might get the nod, Terrett pointed out the SECās consistent approach:
The SEC wonāt approve just one or a couple and not the others. Remember the bitcoin ETFs? Eleven launched on the same day,she explained.
While the regulatorās rumored position dampens sentiment, some traders are still hopeful. Prominent influencer Carl Runefelt, aka The Moon Carl, highlighted SOLās consolidation phase, suggesting an imminent breakout:
$SOL seems to be breaking out to the upside! The target is $290.
ETF Store President Nate Geraci, however, expressed no shock at the news, stating that regulatory shifts are unlikely under Gary Genslerās leadership:
Reacting to this news, Solana Legendāco-founder of Frictionless Capital and MonkeDAOāshared an optimistic take regarding the Solana ETF:
No surprise, but wonāt be any movement on spot crypto ETF filings until new leadership in placeā¦Lame duck.
In a positive turn for crypto ETF issuers, former PayPal COO David Sacks has been appointed by President Donald Trump to oversee crypto policy for the White House.
Reacting to this news, Solana Legendāco-founder of Frictionless Capital and MonkeDAOāshared an optimistic take regarding the Solana ETF:
$SOL ETF has been secured tonight basically. Not investment advice.
Should the SEC issue a negative decision, dissatisfaction is expected to ripple through the ranks of crypto investment advocates. Experts suggest that such a move could incentivize capital flight from the U.S. to regions with more crypto-friendly policies.
Amid the announced leadership transition, the crypto community remains optimistic about the potential for a regulatory reset at the SEC.
Amid the announced leadership transition, the crypto community remains optimistic about the potential for a regulatory reset at the SEC.
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