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Will the Turning Point Come with Trump? Eyes on This Decision for Solana - Coin Bulletin
The Solana (SOL) ecosystem is gearing up for a potential exchange-traded fund (ETF) launch in the US market, marking a significant milestone.
Finally, the Cboe BZX exchange received four different spot Solana ETF applications from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital to the U.S. Securities and Exchange Commission (SEC). Bloomberg Intelligence analyst James Seyffart stated that the SEC is working on these applications and the decision could be announced by August 2025.
The regulatory atmosphere in the US is shifting towards a crypto-friendly direction with Donald Trump taking office and Gary Gensler announcing his resignation from the SEC chairmanship. The presence of a crypto-friendly Congress also raises expectations for the ETF approval process.
ETF Store President Nate Geraci believes that the chances of approval for Solana ETFs are high. Geraci said, 'The SEC's communication with the applicants for these products is a positive sign.' Alexander Blume, CEO of Two Prime Digital Assets, also stated that the approval of spot Bitcoin and Ethereum ETFs would serve as a precedent for Solana.
Blume stated that Solana ETFs will create new liquidity pools for both institutional and individual investors. "This is like replacing a garden hose with a fire hose; such momentum can lead to significant fluctuations in the market."
Solana graph started to move
Last week, Solana's native token SOL broke a new record by surpassing its 2021 peak of $259.96. During the same period, the price of Bitcoin is also moving towards $100,000 with a historic surge. The total net inflows into spot Bitcoin ETFs exceeding $30 billion indicate the increasing institutional adoption of the crypto markets.
Matthew Sigel, VanEck's Director of Digital Asset Research, stated that the SEC's return to a more traditional statement-based regulatory system after Gensler will create more room for crypto innovations. Sigel said, 'There is a high probability that a Solana ETF will be traded by the end of 2025.'