Solana ETF Deadline: Approved or Not Depends on Who the Next US President Is?

Bittime - Deadline The Solana ETF (SOL) is getting closer. Senior ETF analyst at Bloomberg, Eric Balchunas, recently shared his views on the United States Securities and Exchange Commission's (SEC) potential approval of the Solana ETF.

Solana ETF deadline is March 2025?

Balchunas, via the social media platform 

That's right, the date refers to the upcoming United States presidential election. Balchunas believes that the outcome of this election will greatly affect the prospects of the Solana ETF.

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According to him, if President Joe Biden is re-elected, the chance of the Solana ETF being approved is very small, it could even be said to be "dead before birth" (dead on arrival - DOA). 

On the other hand, if former President Donald Trump wins, the opportunity will actually be wide open. Balchunas wrote:

"It looks like the Solana ETF has a final deadline of mid-March 2025. But between now and then, the most important date will be in November. If Biden wins, the chances are slim. If Trump wins, the situation could change."

The Biden Administration is Known to be Anti-crypto

Government Biden has been known for his cautious approach to crypto. Several key officials such as Treasury Secretary Janet Yellen and SEC Chairman Gary Gensler have often voiced their concerns about the potential for fraud, market manipulation and illegal activities in the crypto world. 

This cautious approach has led to stricter oversight and more intensive regulatory action against the crypto industry. Not long ago, Biden also rejected a proposal to roll back the SEC's controversial crypto regulations in SAB 121.

In contrast, former President and current presidential candidate Donald Trump promised to be a “crypto president.” He promised to end Biden's anti-crypto policies, support Bitcoin mining, and prevent the Federal Reserve from launching a central bank digital currency (CBDC).

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Previously, the SEC had approved a Bitcoin ETF in January, marking a significant moment in the integration of crypto with traditional finance. Following the decision, the SEC is now evaluating a similar ETF for Ethereum (ETH). 

SEC Approves Ethereum ETF Proposal

So far, the SEC has approved form 19b-4 for eight Ether ETFs and is working with the issuers to complete the S-1 (Registration Statement) filings required for the launch of these ETFs. 

Gensler recently stated that he expects an Ether ETF to launch next summer.

Interestingly, two issuers, VanEck and 21Shares, have filed paperwork with the SEC to launch a Solana ETF. Additionally, 3iQ Digital Asset Management also revealed that its Solana fund has filed a preliminary prospectus for an initial public offering in Canada. 

This fund is expected to be the first Solana (SOL) exchange-traded product (ETP) in North America.

The approval of the Solana ETF by the SEC is certainly eagerly awaited by crypto investors. However, the decision is likely to depend heavily on the outcome of the upcoming United States presidential election.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.