The post Major Firms Seek Solana ETF Approval Now appeared on BitcoinEthereumNews.com.

In 2025, the cryptocurrency sector showed early signs of recovery, but unforeseen macroeconomic factors disrupted progress. A series of favorable events, including the start of FTX refunds and the resolution of the Genesis crisis, have lifted spirits among major players. Despite these advancements, cryptocurrencies have yet to reach anticipated heights. With former President Trump’s return to office easing some regulatory pressures, major corporations remain optimistic about the crypto market’s trajectory. What’s Happening with Solana’s ETF?What Makes This ETF Application Unique? What’s Happening with Solana’s ETF? ETF issuers are actively pushing their applications as they expect a favorable shift in the cryptocurrency landscape in the coming months. While BlackRock has been hesitant about altcoin ETF submissions aside from Ethereum, Fidelity has taken a different route by filing for a Solana Coin ETF, mirroring its previous BTC and ETH applications. What Makes This ETF Application Unique? The application for the Solana ETF reflects a significant development in the cryptocurrency ETF process, following the establishment of a framework during Bitcoin‘s approval. Today’s applications benefit from clearer guidelines, resulting in a higher likelihood of approval with minimal modifications. The SEC has shown openness to altcoin ETF applications, aided by CME’s futures listings. The March 25 application outlines crucial aspects of the Solana network, including its decentralized structure and innovative Proof-of-History and Proof-of-Stake protocols, which enhance transaction efficiency. The application highlights risks such as volatility and potential slashing due to security issues during staking. Custody services are likely to be managed by Coinbase, with data support from established entities like Reuters. Investors face uncertainties regarding regulatory oversight from entities like the SEC, which do not have explicit jurisdiction over such products. The fund specifies it will not assert rights to new assets from blockchain forks or airdrops. Trading of fund shares will occur during stock…

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Filed under: News - @ March 26, 2025 1:26 am