US Executive Change May Speed ​​Solana ETF Approval

Bittime - Nate Geraci, President of The ETF Store, recently expressed his views regarding the approval of a Solana spot ETF via the X platform. Geraci highlighted that although the SEC recently withdrew its request to list tokens such as Solana, Cardano, and Polygon as securities, this move does not will affect or increase the likelihood of Solana spot ETF approval.

Withdrawal of SEC Request Does Not Affect Approval

According to Geraci, the SEC's decision to withdraw the token listing request does not change the dynamics of the Solana spot ETF approval. This means that while there is a change in the SEC's approach to token regulation, it does not directly speed up the approval process for Solana spot ETFs.

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Conditions for Solana Spot ETF Approval

Geraci identified several conditions that must be met for Solana spot ETF approval:

1. Launch of Solana Futures Contracts by CME

   One of the expected conditions is the launch of Solana futures contracts by the CME (Chicago Mercantile Exchange) and the establishment of a fairly long trading record. This process is expected to take the longest as it requires in-depth futures trading infrastructure approval and development.

2. Building a Comprehensive Crypto Regulatory Framework

   Geraci also noted that the existence of a comprehensive crypto regulatory framework will be an important condition for approval of the Solana spot ETF. However, this requires a long time because it involves the preparation and implementation of comprehensive regulations by the relevant authorities.

3. Changes in the Executive Branch of the US Government

   According to Geraci, the quickest path to approval for a Solana spot ETF would be a change in the executive branch of the US government. Geraci argued that a change in executive administration could speed up the approval process by bringing a new approach to crypto regulation and ETF management.

4. Potential Impact of Executive Branch Changes

   Geraci believes that a change in government could change regulators' attitudes towards crypto assets, including ETFs. The new administration may be more open to financial and technological innovation, which could speed up the approval of the Solana spot ETF and expand the adoption of crypto financial products in the market.

5. Market Readiness for Solana Spot ETF

   With approval of the Solana spot ETF still in contention, Geraci emphasized the importance of market readiness and supporting infrastructure. In addition to regulatory factors, market readiness to accept a new investment product such as the Solana spot ETF will also play an important role in determining the timing of its approval.

Conclusion

Nate Geraci's take on Solana's spot ETF approval highlights the challenges ahead, including the launch of futures contracts, the development of a comprehensive regulatory framework, and possible changes in the executive branch of the US government. While there are several paths to approval, Geraci thinks that a change in government is the quickest path that could speed up the Solana spot ETF approval process. In the future, investors and market players will continue to pay attention to developments in regulations and policies that can influence the adoption of these crypto-based financial products.

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