Regulators Open Review for Four New Solana ETF Applications
The U.S. Securities and Exchange Commission (SEC) has acknowledged four additional Solana ETF applications, increasing speculation about the approval of spot Solana ETFs. While analysts believe Litecoin and Dogecoin ETFs may have a higher approval probability, Solana remains a focal point of regulatory discussions.
On Tuesday, the SEC opened a public comment period for the Canary Solana Trust ETF, a new proposal from Canary Capital. At the same time, it recognized similar filings from VanEck, 21Shares, and Bitwise, initiating a 21-day review period before a decision is made.
ETF Race and Market Expectations
- Bloomberg analyst Eric Balchunas suggests Litecoin and Dogecoin could be prioritized over Solana or XRP, citing potential regulatory hurdles.
- Grayscale’s Solana ETF filing was acknowledged last week, marking another step forward for altcoin ETFs.
- Franklin Templeton recently filed for a Solana Trust, signaling continued institutional interest in SOL.
Prediction markets are now pricing in an 82% probability of Solana ETF approval in 2025, as regulatory clarity on token classification could determine the fate of multiple altcoin ETFs.
