The approval process for a Solana (SOL) ETF has encountered significant hurdles, largely due to the U.S. <a href="https://www.sec.gov/Archives/edgar/data/2028834/000121390024057001/ea0208625-s1_21shares.htm" target="_blank" rel="nofollow noopener">Securities and Exchange Commission</a> (SEC) classifying SOL as a security. This label, imposed in June 2023, has created regulatory roadblocks for companies like VanEck and 21Shares, which have seen their 19b-4 forms removed from the Chicago Board Options Exchange (Cboe) website.
<h3>SEC Raises Concerns Over SOL's Security Status</h3>
According to sources, the SEC has expressed concerns to potential ETF issuers regarding the security status of Solana. These concerns led to the decision not to file the 19b-4 forms with the Federal Register, a crucial step in the ETF approval process. Without these filings, the approval and listing of a Solana ETF remain stalled.
<h3>Current Status of ETF Filings</h3>
While VanEck’s S-1 registration for its Solana ETF still appears on the SEC’s EDGAR system, 21Shares’ similar filing has been removed from search results, though the direct link remains accessible. This situation underscores the SEC’s cautious approach towards Solana, especially considering its previous stance that Solana might be classified as a security.
<h2>Outlook for Solana ETF</h2>
[embed]https://twitter.com/NateGeraci/status/1824652676728045961[/embed]

Given the SEC's concerns, the approval of a Solana ETF seems unlikely under the current administration. Experts believe that approval may not happen until 2025, if at all. This cautious stance contrasts with the approval of ETFs for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), highlighting the regulatory challenges specific to Solana.

SEC Commissioner Hester Pierce, known as 'crypto mom,' has emphasized that the regulator needs more convincing before it can approve a Solana ETF, further dampening hopes for near-term approval.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Solana ETF Unlikely Amid SEC's Security Concerns: Delays Expected

Solana ETF approval faces delays due to SEC's security classification concerns. Experts predict approval unlikely under the current administration.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Solana ETF Unlikely Amid SEC's Security Concerns: Delays Expected

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