温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.bee.com/ur/33804.html
点击访问原文链接

From almost hopeless to expected before the end of 2025, what challenges are there for Solana ETF to be approved? | Bee Network

进入原网站 导航首页
From almost hopeless to expected before the end of 2025, what challenges are there for Solana ETF to be approved? | Bee Network Login ٹرینڈنگ نیوز میمی لانچ پیڈ اے آئی ایجنٹس DeSci TopChainExplorer نیوبی کے لیے 100x سکے مکھی کا کھیل ضروری ویب سائٹس اے پی پی کا ہونا ضروری ہے۔ کرپٹو مشہور شخصیات DePIN Rookies ضروری ٹریپ ڈیٹیکٹر بنیادی ٹولز اعلی درجے کی ویب سائٹس تبادلہ NFT ٹولز ہیلو، باہر جائیں ویب 3 کائنات کھیل ڈی اے پی پی شہد کی مکھیوں کا چھتا بڑھتا ہوا پلیٹ فارم AD تلاش کریں۔ انگریزی سکے ریچارج کریں۔ لاگ ان کریں ڈاؤن لوڈ کریں ویب 3 یونی کھیل ڈی اے پی پی شہد کی مکھیوں کا چھتا AD گھر•تجزیہ•مرکزی متن From almost hopeless to expected before the end of 2025, what challenges are there for Solana ETF to be approved?تجزیہ12 ماہ پہلے更新وائٹ 34,2662 56 اصل مصنف: Weilin، PANews

The BZX exchange of the Chicago Board of Trade (Cboe) recently submitted applications for four Solana ETFs. With the end of the US election day, Trump will take office, and the chairman of the Securities and تبادلہ Commission (SEC), Gary Gensler, has announced that he will resign in January next year, the regulatory environment for کرپٹوcurrency ETFs is expected to usher in major changes, creating new opportunities for the approval of the Solana ETF.

Analysts believe that the SEC will return from a law enforcement-based to an information disclosure-based regulatory model. If the Solana ETF is approved, it will stimulate huge demand in the crypto ETF market. As the fourth largest cryptocurrency by market value, Solana, despite the lack of support from a mature futures market and the potential obstacle of being judged as a security, is steadily advancing its ETF application process in anticipation of the new regulatory environment.

Four institutions are competing to apply for Solana ETF, which was once almost impossible On November 22, Cboe BZX Exchange documents showed that the exchange proposed to list and trade four Solana ETFs on its platform. These ETFs were initiated by Bitwise, VanEck, 21 Shares and Canary Funds, and were classified as commodity-based trust fund shares and submitted in accordance with Rule 14.11(e)(4). If the SEC formally accepts it, the final approval deadline is expected to be early August 2025.

In addition to Bitcoin and Ethereum, the following cryptocurrencies are also awaiting ETF approval:

• XRP ETF: Canary Capital, Bitwise and 21 Shares have submitted applications.

• Solana ETF: Canary Capital, 21 Shares, Bitwise and VanEck are seeking approval.

• Litecoin ETF: Canary Capital has submitted an application.

• HBAR ETF: Canary Capital has submitted an application.

Nate Geraci, president of ETF Store, said on November 21 that there was news that at least one issuer had also attempted an ETF application for ADA (Cardano) or AVAX (Avalanche).

At present, some industry insiders believe that the Solana ETF has a higher chance of being approved than other ETFs.

However, just three months ago, it was publicly reported that CBOE had removed the 19 b-4 applications for two potential Solana ETFs from the Pending Rules Change page on its website. At the time, Bloomberg ETF analyst Eric Balchunas commented that after Cboe removed the Solana ETFs 19 b-4 application from its website, the Solana ETF had little chance of being approved. But now, the new regulatory environment may bring significant changes.

Expected regulatory changes: SEC will return to a regulatory model based on information disclosure After the US election day, President-elect Trump and the most crypto-friendly Congress in history will take office . SEC Chairman Gary Gensler, who has been criticized by the crypto industry, will resign on January 20, 2025, which has brought more optimism to crypto supporters.

Nate Geraci, president of ETF Store, said he believes the Solana ETF is very likely to be approved by the end of next year. “It looks like the SEC is communicating with the issuer about this product, which is obviously a positive sign.”

Alexander Blume, CEO of Two Prime Digital Assets, echoed this view, saying that if publishers don’t have a high degree of confidence that they will succeed, they won’t waste time and money doing it.

Matthew Sigel, head of digital asset research at VanEck, which first applied for the Solana ETF, said, “It was the SEC under Gary Gensler that broke the long-standing rule-oriented traditional process and regulated through law enforcement. Returning to a conventional system based on information disclosure will bring more possibilities for innovation. I think the possibility of launching the Solana ETF by the end of next year is very high.”

However, in contrast to VanEcks optimism, Robert Mitchnik, head of BlackRocks digital assets division, which currently has the largest Bitcoin ETF, said the company has little interest in crypto products other than Bitcoin and Ethereum.

SEC Chairman Gary Gensler to step down in January 2025

Gensler will step down as SEC chairman on January 20, the same day Trump is inaugurated. Recently, these news have boosted the crypto market, with Bitcoin prices continuing to hit record highs as they hit the $100,000 mark.

Data shows that the SEC set a record in fiscal year 2024, filing 583 enforcement actions and obtaining $8.2 billion in financial compensation orders, the highest amount in SEC history. This represents a 14% increase in enforcement actions compared to 2023. Among them, cases involving cryptocurrencies, private equity funds, and other high-risk financial misconduct are the agencys priorities. Now, Genslers resignation is expected to reverse the crypto regulatory environment.

Alexander Blume, mentioned above, said: “Through regulated traditional financial channels such as banks and exchanges, institutional and retail investors are able to access cryptocurrencies through ETFs, which will open up pools of funds that did not exist before. This is like replacing a (small) swimming pool hose with a (big) fire hose, which means that the potential market momentum is enhanced and speculative trading may also have a greater impact.”

Solana is growing strongly, but what potential application challenges does it face? Boosted by the meme, Solana has seen significant growth this year. Solana’s native token SOL broke through its previous all-time high of $259.96 set at the end of 2021 on November 23, reaching $263.83, with a market value of $121.1 billion, making it the fourth largest cryptocurrency.

What application obstacles will Solana ETF encounter? Looking back at the previous Ethereum ETF application, in the approval statement of the Ethereum ETF, the SEC adopted an analysis framework called Ark Analysis Test, which was provided by the Ark Fund and adopted by the SEC. The framework lists several key reasons for the final approval of the Ethereum ETF: First, the existence of futures trading: the approval of spot ETFs must be based on a mature futures trading market, especially an officially recognized exchange such as CME (Chicago Mercantile Exchange). Secondly, the deviation between the price of the futures ETF and the spot price cannot be too large. This proves that the market will not be manipulated by the spot ETF. In addition, a certain degree of market maturity is required. Futures ETFs have been running for some time and have performed stably, which further supports the maturity and stability of the spot market.

Rob Marrocco, CBOE Vice President and Head of Global ETF Listings, noted that the only viable way to bring Solana ETFs to market is to launch Solana futures ETFs first and then pave the way for spot ETFs. He further stated that even if Solana futures ETFs are launched, they will need to go through a period of trading to establish a performance record, a process that may be long and may ultimately take a lot of time to complete.

Although Bitcoin ETF and Ethereum ETF have been approved, they have a big difference from Solana: Bitcoin and Ethereum are both traded on the regulated Chicago Mercantile Exchange (CME) futures, which the SEC can monitor. Solana was listed as one of the 19 unregistered securities when the SEC sued Binance and Coinbase Global Inc. in 2023, which also brought legal obstacles to the approval of SolanaETF.

Nevertheless, Matthew Sigel, head of digital asset research at VanEck, previously noted that VanEck believes Solana (SOL) is a commodity, similar to Bitcoin (BTC) and Ethereum (ETH). This view is based on an evolving legal perspective, where courts and regulators have begun to recognize that certain crypto assets may behave as securities in the primary market, but more like commodities in the secondary market.

Sigel further mentioned that Solana has made significant progress in decentralization over the past year; the top 100 holders currently control about 27% of the supply, a significant decrease from a year ago. The top 10 addresses now hold less than 9%. Solana has more than 1,500 validator nodes in 41 countries, operates more than 300 data centers, and has a Satoshi coefficient of 18, surpassing most of the networks it monitors. The upcoming Firedancer client will further enhance decentralization and ensure that no single entity can dominate the blockchain. He believes that these advances make Solanas decentralized features more prominent, more like digital commodities such as Bitcoin and Ethereum.

Sigel also mentioned a key legal precedent – the 2018 U.S. Commodity Futures Trading Commission (CFTC) v. My Big Coin case. In this case, MBCs defense argued that the token was not a commodity because there was no futures contract associated with it. However, the U.S. District Court disagreed with this view, arguing that under the U.S. Commodity Exchange Act (CEA), the definition of commodities is very broad, including all goods, articles, and all services, rights and interests related to these commodities, and these commodities may have futures contracts in the future.

Sigel believes that this precedent may apply to Solana, indicating that even if Solana does not have futures contracts, it can still be considered a commodity. This classification is crucial to the approval of the Solana ETF because it provides Solana with a legal basis to be recognized as a commodity, allowing Solana to enter the approval process for commodity ETFs.

As a result, he said, ETF approval does not necessarily require an active futures market. Shipping, energy and uranium ETFs already exist, although the relevant futures markets have low trading volumes. We think it can be approved even without a CME futures contract. He said a market surveillance sharing agreement between exchanges could be an alternative.

If approved, the next question is how much demand there will be for the spot Solana ETF. Grayscale Investments already operates the Grayscale Solana Trust, which currently manages about $70 million in assets. Bloomberg analyst James Seyffart believes that since Solana’s market cap is about 6% of Bitcoin’s, demand for the ETF will grow proportionally, and it is expected that total demand will eventually reach about $3 billion.

This article is sourced from the internet: From almost hopeless to expected before the end of 2025, what challenges are there for Solana ETF to be approved?

Related: Metrics Ventures: Sui vs. Aptos, which public chain ecosystem has more growth potential? Original author: Charlotte As the price of BTC broke through $89,000, the market saw a long-lost bull market atmosphere, and altcoins rose sharply, among which many public chain tokens nearly doubled. The market recovery has not brought about the emergence of mainstream sectors. The market currently lacks a mainstream narrative, and this trend may continue for some time to come. In the absence of a main narrative, looking for Beta and Alpha based on the public chain ecosystem may be a viable trading strategy for some time to come. Therefore, we explored a set of analytical frameworks and analyzed and compared Sui and Aptos, which have performed well recently, under this framework. 1 Analysis framework: How to evaluate the public chain ecosystem? The most direct factor affecting the outbreak of…

# تجزیہ# بٹ کوائن# کرپٹو# defi# ایتھریم# ایکسچینج# مارکیٹ# ٹوکن© 版权声明صف 上一篇 Airdrop Weekly Report | Magic Eden tokens will be TEG on December 10 下一篇 Railgun: A privacy service worth $2 billion, a ZK tool to cover up money laundering on the chain 相关文章 CoinW ریسرچ انسٹی ٹیوٹ کی ہفتہ وار رپورٹ (2025.6.9-2025.6.15) 6086cf14eb90bc67ca4fc62b 25,911 گرمنیویارک ٹائمز: ٹرمپ کرپٹو کرنسی کو کیپٹل جنون میں دھکیل رہے ہیں۔. 6086cf14eb90bc67ca4fc62b 16,505 Proposal to cancel staking, team cashes out 100 million? Celestia is in a crisis of trust 6086cf14eb90bc67ca4fc62b 28,680 1 Before Moonbirds launched its token, it initiated the “Birbillions Project” 6086cf14eb90bc67ca4fc62b 8,814 24-Hour Hot Cryptocurrencies and News | Trump praises cryptocurrencies, saying they alleviate pressure on the dollar; White House says Trump underwent serious and thorough review before signing CZ pardon (November 6) 6086cf14eb90bc67ca4fc62b 18,016 A Look Ahead at the New Fed Chair: Hassett, Coinbase Holdings, and Trump’s “Loyal Doves” 6086cf14eb90bc67ca4fc62b 18,219 2 2 تبصرے آپ کو ایک تبصرہ چھوڑنے کے لیے لاگ ان ہونا چاہیے! فوری طور پر لاگ ان کریں۔ muran مہمان 哈哈哈

1 ماہ پہلے mamun rashis مہمان خدا

1 سال پہلے (2024) Bee.com دنیا کا سب سے بڑا Web3 پورٹل شراکت دار سکے کارپ بائننس CoinMarketCap سکے گیکو سکے لائیو آرمر Bee Network APP ڈاؤن لوڈ کریں اور web3 کا سفر شروع کریں۔ سفید کاغذ کردار عمومی سوالات © 2021–2026۔ جملہ حقوق محفوظ ہیں۔. رازداری کی پالیسی | سروس کی شرائط Bee Network APP ڈاؤن لوڈ کریں۔ اور ویب 3 کا سفر شروع کریں۔ دنیا کا سب سے بڑا Web3 پورٹل شراکت دار CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors سفید کاغذ کردار عمومی سوالات © 2021–2026۔ جملہ حقوق محفوظ ہیں۔. رازداری کی پالیسی | سروس کی شرائط تلاش کریں۔ تلاش کریں۔InSiteآنچینسماجیخبریں 热门推荐: ایئر ڈراپ ہنٹرز ڈیٹا تجزیہ کرپٹو مشہور شخصیات ٹریپ ڈیٹیکٹر اردو English 繁體中文 简体中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी Русский اردو

智能索引记录