Senior Bloomberg Analyst predicts launch of Solana ETF in 2025
Key Highlights of the Article Rewrite:
Prominent Bloomberg analyst forecasts launch of Solana ETF by 2025, contingent on regulatory approval.
VanEck files for Solana ETF, anticipated on Cboe BZX Exchange, marking U.S. debut.
Potential entry of BlackRock and Grayscale into Solana market post-VanEck ETF approval.
Following Bitcoin and Ethereum ETFs, VanEck, a major NYC investment firm, seeks SEC approval for a Solana ETF, with uncertainty over current administration’s stance. Senior Bloomberg ETF Analyst James Seyffart predicts potential market debut by 2025.
Solana ETF Scheduled for 2025 Launch
Matthew Sigel, head of digital assets research at VanEck, announced via Twitter that the firm has submitted a filing with the U.S. Securities and Exchange Commission (SEC) for a Solana ETF. The proposed VanEck Solana Trust aims to leverage Solana’s decentralized architecture, utility, and economic viability. This marks the inaugural U.S. filing for a Solana ETF.
Excited to announce VanEck’s FIRST filing for a Solana ETF in the US. We believe SOL qualifies as a commodity for various reasons. Why did we file? A rival to Ethereum, Solana is open-source blockchain software designed to…
pic.twitter.com/XwwPy8BXV2
— matthew sigel, recovering CFA (@matthew_sigel)
June 27, 2024
VanEck’s filing outlines plans for the VanEck Solana Trust to list on the Cboe BZX Exchange upon SEC approval. This development closely follows Canadian firm 3iQ Corp’s preliminary prospectus filing for the Solana (SOL) Fund (QSOL) in Canada.
James Seyffart speculates that regulatory shifts under a new White House administration could enable the Solana ETF launch by 2025. The current administration’s policies pose challenges for new ETF approvals.
First SOL ETF Filing in the U.S. Intrigued to see if other issuers will follow suit immediately. Early indications suggest a 2025 launch possibility pending changes in White House and SEC leadership. No guarantees.
https://t.co/I1yoWNpdd4
— James Seyffart (@JSeyff)
June 27, 2024
Nevertheless, the move is poised to attract substantial interest from investors and industry experts.
What Comes Next?
With traditional investors increasingly eyeing these ETFs, focus now turns to forthcoming Ethereum ETF debuts expected this year. VanEck’s recent Solana ETF filing could signal a comparable trajectory for Solana, potentially setting the stage for additional ETF offerings.
Analysts like Seyffart speculate that major players such as BlackRock, Grayscale, and Franklin Templeton may enter the SOL market, driving a new growth phase.
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