Bitcoin ETFs were created at the beginning of the year, and ether in May. Is it time for solanine ETFs now?
Will ETF-solans be created?
Bitcoin and ether funds have become a reality this year. Some say that solanine ETFs are next in line.
VanEck is the one applying for the SOL ETF issue from the larger companies. And here is the first snag. The company only filled out the S-1 form. It lacked the 19b-4 form. What does it matter? “S ones” are important. These are ETF passes to the stock exchanges. However, without the SEC stamps on 19b-4, they are worthless. The former must be stamped first. This is proof that ETFs comply with US law.
Perhaps most importantly, the S-1 does not trigger a “countdown.” It is the 19b-4 that starts the ETF approval process.
BlackRock did not file an application to create an SOL ETF. Although no one from the SEC will say it out loud, it was probably the interest in creating BTC and ETH ETFs by this company that could have turned out to be a breakthrough in the process.
The icing on the cake may come from BlackRock CIO Samara Cohen, who told Coingape that the giant has no plans to launch any more cryptocurrency ETFs.
The chance is…
The above suggests that the chance for ETFs is small. However, there is another side to the coin.
Franklin Templeton’s digital assets director, Roger Baston, has indicated that his firm is interested in solanum. This suggests that other entities see potential in the cryptocurrency. Also in terms of ETFs.
In addition, there is the SEC’s changed position on Solana. The Commission recently amended its complaint against Binance. SOL was removed from the document. And from a key place: from the list of securities that the aforementioned exchange allegedly offered. This may mean that officials are liberalizing their approach to digital assets.
In turn, Bloomberg’s senior ETF analyst Eric Balchunas believes that salt funds could emerge. However, Donald Trump must win the election. That would mean changing the SEC’s staff.
The field may also be cleared by 3iq Digital Asset Management, which wants to issue ETFs in Canada.
So as you can see, the chances for SOL ETFs are there. And they are not necessarily small.
