SEC Acknowledges Grayscale’s 19b-4 Filing for a Solana ETF
The
U.S. Securities and Exchange Commission (SEC) has begun soliciting
public comments on a proposal to list and trade the
Grayscale Solana Trust (GSOL) as a spot ETF. This marks a
significant regulatory shift, as the SEC had previously refused to acknowledge similar filings for Solana.
First ETF Filing for a Previously Labeled ‘Security’
Analysts at
Bloomberg described the SEC’s acknowledgment as “notable” because
Solana was previously classified as a security in enforcement actions under former SEC Chair
Gary Gensler. This development signals
a possible shift in regulatory stance under the
pro-crypto Trump administration, particularly following
the launch of the SEC’s new crypto task force.
Market Implications for Solana ETF Approval
While the acknowledgment of the filing does not guarantee approval, it
significantly improves the chances of a
spot Solana ETF being greenlit by the SEC later this year. Industry experts speculate that this move could
accelerate the approval process for
other altcoin ETFs, including potential filings for
Litecoin, XRP, and Cardano.
Regulatory Landscape Under Trump Administration
President
Donald Trump’s crypto-friendly policies and the formation of a
crypto-focused SEC task force have led to expectations of
a more favorable regulatory environment for crypto ETFs. Analysts predict that a
spot Solana ETF could be approved before year-end, marking a
major step toward mainstream institutional adoption of alternative Layer 1 assets.
