As regulatory and market dynamics shift in favor of digital asset products, the launch of the Solana ETF appears imminent.
Stock exchange Cboe BZX filed four applications for a spot Solana ETF on Thursday, along with offerings from VanEck, 21Shares, Bitwise Asset Management and Canary Capital. Bloomberg Intelligence ETF analyst James Seyffart said the application is a significant step forward for the Solana ETF and noted that if the SEC accepts the application, a final decision could be due in early August 2025.
SOL ETF Likely Approved: Nate Geraci
In particular, ETF Store President Nate Geraci expressed optimism about this development, saying, “It appears the SEC is working with issuers on this product, which is a positive sign.” He believes it is very likely that the Solana ETF will be approved by the end of next year at the latest.
The optimism surrounding Trump, coupled with news of SEC Chairman Gary Gensler’s resignation, effective January 20, 2025, has sparked speculation about a climate more supportive of digital asset innovation.
Fox Business’s Eleanor Terrett recently shared in a recent
New developments suggest it’s more likely that the product will be approved in 2025, but there’s no guarantee the SEC will approve it. However, most Solana supporters are confident, considering SEC Chairman Gensler’s retirement in January 2025.
Optimism Growing for SOL ETF
In particular, Matthew Sigel, head of digital asset research at VanEck, is optimistic about the Solana ETF’s timeline, saying, “I think it’s very likely that the Solana ETF will be trading by the end of next year.”
Geoffrey Kendrick, global head of digital asset research at Standard Chartered, also said approval of the Solana ETF is more likely under the Trump administration.
SOL recently hit an all-time high on Friday morning, trading at $264.31 on Coinbase Inc. The token is up 18% over the past week and continues its strong performance in 2024, up 160% since the beginning of the year. It currently has a market capitalization of $123 billion, or about 4% of the entire cryptocurrency market.
Market analysts are optimistic about Solana’s continued rise, having surpassed its previous high of $260 and now setting a price target of $400.