Solana ETF: 2025 or Bust?
Solana has burst onto the crypto scene, becoming a real power player. Since 2020, it’s dominated the market with user engagement and practical applications, especially in decentralized finance (DeFi). Many in the industry believe it’s the next in line for ETF approval in the US. 😜
But hold your horses, folks! Others are a little more skeptical. BeInCrypto chatted with experts from Gravity, Variant, and OKX to see where Solana still needs to step up its game. Centralization, network reliability, and those pesky regulators are holding Solana back, they say. 😩
Bitcoin and Ethereum‘s Precedent
Exchange-traded funds (ETFs) for major cryptocurrencies have been gaining traction. These funds offer investors a diversified way to invest in crypto and bridge the gap between traditional finance and the increasingly mainstream crypto market. 🤝
Bitcoin became the first cryptocurrency to have spot ETFs approved by the SEC in January 2024. The SEC greenlit 11 such ETFs, allowing investors to access Bitcoin indirectly. Ethereum followed suit in May 2024, much to everyone’s delight. 🥳
The success of both Bitcoin and Ethereum in getting ETF approval after years of waiting saw significant inflows and drove prices to record highs. Investors went wild! 🤑
Solana is hoping to be the next in line to get its very own ETF approval. The deadline for some first Solana ETF filings from VanEck and 21Shares passed in mid-2024.
But here’s the twist: the SEC delayed ETF applications for Solana, XRP, Litecoin, and Dogecoin after facing recent criticism for its pro-crypto actions. 🤬
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Several factors make an imminent Solana ETF approval seem plausible. In less than five years, Solana became a major player in the crypto industry, attracting users with its speed and low transaction fees. 🚀
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2025-03-12 12:37