Bloomberg Analyst Highlights Odds Of SOL ETF Approval
The post Bloomberg Analyst Highlights Odds Of SOL ETF Approval appeared on BitcoinEthereumNews.com.
The Solana ETF buzz has sparked excitement in the crypto community. With VanEck’s recent Solana ETF filing, there’s a growing hope that the SEC might approve it, following in the footsteps of U.S. Spot Bitcoin. In addition, the news comes amid a time when the anticipation is soaring over potential approvals for the U.S. Spot Ethereum ETF next week. Meanwhile, amid this, Bloomberg analyst Eric Balchunas highlights that the odds of approval are increasingly intertwined with the political landscape, particularly the potential shift in U.S. presidential leadership. VanEck’s Solana ETF Filing Sparks Optimism The excitement around a Solana ETF is palpable, driven largely by VanEck’s filing with the SEC on June 27. Given the robust rally in BTC price following the U.S. Spot Bitcoin ETF approval, the investors are also anticipating a similar scenario of Solana. Notably, the optimism in the market was witnessed by the significant gains in SOL price since yesterday, following VanEck’s development. Now, investors are speculating whether Solana could witness a similar price rally as Bitcoin. Meanwhile, adding to the anticipation, there’s also keen interest in the potential approval of a U.S. Spot Ethereum ETF by the SEC, expected next week. The parallel developments in major cryptocurrencies suggest a trend toward broader acceptance and regulation of digital assets. However, amid this, Eric Balchunas, a senior ETF analyst at Bloomberg, underscored the speculative nature of the Solana ETF approval. In a recent X post, he said that the chances of Solana ETF approval are closely tied to the political landscape in the U.S., especially on the “U.S. presidency”. The statement from the Bloomberg analyst reflects a growing sentiment that political shifts could significantly influence the regulatory landscape for crypto assets. The odds of the approval are “closely tied” to the “change in POTUS”, Balchunas noted. Also Read:…
Filed under: News - @ June 28, 2024 5:26 pm