Solana (SOL) has been in the spotlight recently with notable developments, including Canada’s Solana ETP launch, a $60 million startup fund, and VanEck’s Solana ETF filing. VanEck highlighted Solana's scalability, speed, and low transaction costs, positioning it as a competitor to Ethereum for payments, gaming, and DeFi applications.
SEC Signals Rejection of Solana Spot ETFs
In a recent update, Fox Business journalist Eleanor Terrett revealed that the U.S. Securities and Exchange Commission (SEC) has indicated it will reject two of the five filings for Solana spot ETFs. According to Terrett, the SEC is unlikely to approve any new crypto ETFs under the current administration. Analysts, including James Seyffart, speculate that approval might not come until 2025, particularly if a regime change occurs at the SEC.