When Will the Solana ETF Be Approved in the United States What is the Outlook for Its Listing The Arrival of Altcoins on Wall Street is Imminent

CoinJin.com reported:
Recently, VanEck, a leading asset management giant that has issued a Bitcoin spot ETF and is seeking SEC approval for an Ethereum spot ETF, confirmed that it has submitted an application for a Solana ETF (VANECKSOLANATRUST) to the SEC.
The news of the first listed Solana ETF in the United States has caused the price of SOL to rise, and the Solana ecosystem has gained more hope. At the same time, it has sparked widespread discussions in the market: when will the United States approve the listing of Solana ETF? What is the prospect of the listing of Solana ETF in the current political and regulatory environment?
In fact, a week ago, 3iQ, a cryptocurrency asset management company, applied for a spot Solana ETF in Canada, which is the first case in North America. In recent months, Franklin Templeton, a $1.5 trillion asset management company, has also expressed appreciation for the Solana ecosystem and network.
Analyst James Seyffart quoted data from June 20th, stating that Solana trading products worth over $1 billion have been launched globally, including 21Shares Solana Staking ETP and the ETC Group Physical Solana product in Europe.
Solana, as a highly regarded blockchain network, is also favored by investors for its native token SOL, but establishing a Solana ETF is not easy. Although VanEck’s Solana ETF application has been accepted, industry insiders generally believe that it still faces great uncertainty in obtaining approval under the leadership of the U.S. Securities and Exchange Commission (SEC) led by the Biden administration.
According to analysis, the approval of Solana ETF may face many obstacles and is unlikely to be realized at least during the Biden administration. The main reasons are as follows:
There is controversy over Solana’s status at the SEC. SEC’s Gary Gensler previously stated that Solana may be deemed a security, rather than defined as a commodity like Bitcoin and Ethereum. This means that Solana ETF would need to meet stricter regulatory requirements.
Solana lacks a mature derivatives market. Unlike Bitcoin and Ethereum, Solana has not yet established a mature futures market. SEC tends to approve cryptocurrency ETFs based on futures rather than spot ETFs. SEC has previously required a mature futures market as a basis when reviewing Bitcoin and Ethereum ETF applications. The lack of a derivatives market will limit the ability of ETF managers to effectively hedge and manage risks.
Concerns about manipulation and price manipulation. SEC has always had concerns about the lack of regulation and potential manipulation in the cryptocurrency market. For the emerging Solana, this risk may be even greater. In addition, the Solana network has experienced multiple downtime events, which is also a major obstacle to SEC’s approval of Bitcoin ETF.
Although it is difficult to obtain approval under the SEC led by the Biden administration, industry insiders generally believe that the future of Solana ETF is still optimistic. Once the political landscape changes, such as Trump being re-elected, the prospects for the approval of Solana ETF may change significantly.
During the Trump administration, the SEC’s regulatory stance was generally more open and friendly. Especially in the field of cryptocurrency, the Trump administration has always maintained a relatively loose attitude. Moreover, it is likely that there will be changes in the leadership of the SEC after Trump takes office, and the new management may take a more open attitude towards the listing of Solana ETF. Therefore, some analysts believe that if Trump is successful in his second term, the approval of Solana ETF may be quickly granted and may even surpass the increase of Bitcoin ETF.
However, some people believe that whether Trump can be elected or not, even if it is still in the Biden period, with the passage of time and changes in the regulatory environment, Solana ETF will eventually be approved, only a matter of time. At the same time, they have a positive attitude towards the broader cryptocurrency market: VanEck’s application for a Solana ETF further proves that altcoins are about to land on Wall Street.
First of all, Bitcoin and Ethereum ETFs were eventually approved during the Biden administration, which indicates that the U.S. regulatory environment is gradually accepting cryptocurrency ETFs. In this context, the road to Solana ETF will also become smoother.
Secondly, as a highly regarded blockchain network, the Solana ecosystem is also constantly developing and improving. If Solana can further improve network stability and enhance regulatory compliance in the future, it is believed that it will better meet the approval requirements of the SEC.
Finally, the change of the U.S. government may also bring changes to the regulatory environment. If a government that is more friendly to cryptocurrencies emerges in the future, the approval process of Solana ETF may also be accelerated.
In summary, the path to the listing of Solana ETF will not be smooth, but in the long run, with the continuous development of the cryptocurrency market and the gradual improvement of the regulatory environment, it is inevitable that Solana ETF will land on the U.S. capital market and become the focus of investors’ attention. For investors, Solana is undoubtedly one of the most promising cryptocurrencies at present and deserves close attention.