tl;dr
The outlook for United States-based Solana exchange-traded funds (ETFs) in 2024 remains grim. Recent regulatory actions suggest minimal chance of approval under the current administration, as filings necessary for SEC review were rejected. Analysts predict near-zero approval probability in 2024, wit...
The outlook for United States-based Solana exchange-traded funds (ETFs) in 2024 remains uncertain due to recent regulatory actions. The Securities and Exchange Commission (SEC) rejected the necessary filings for spot Solana ETFs, leading to their removal from the Chicago Board Options Exchange (CBOE) website. Bloomberg ETF analyst Eric Balchunas indicated a near-zero chance of approval in 2024, with potential impact from the 2024 election. Nate Geraci highlighted the unlikely approval of a Solana ETF under the existing administration and the absence of CME-traded Solana futures. Despite this, VanEck’s Matthew Sigel emphasized determination to launch a spot Solana ETF, drawing parallels to digital tokens and advocating for potential CFTC regulation of the crypto market. On Tuesday, the SEC declined the CBOE’s 19b-4 filings for prospective spot Solana ETFs, resulting in their removal from the CBOE website. The rejection halted any progress toward approval or denial, leaving the future of Solana ETFs in uncertainty. Balchunas expressed skepticism about approval unless there's a change in leadership, while Geraci highlighted the absence of CME-traded Solana futures as a barrier to approval. Sigel, however, remains determined to launch a spot Solana ETF, citing potential regulatory shifts and precedents from other commodity markets. As a result of recent regulatory developments, the future of Solana ETFs in the United States remains shrouded in uncertainty, with potential approval hinging on regulatory and political shifts in the coming years.
More about Cboe Global Markets Inc
Cboe Global Markets Inc
Cboe Global Markets is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.
Industry: FINANCE, SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
Market Cap: 21,556,697,000
Current Price: $28.53
Price Change: $2.20
Percentage Change: 7.22%
52-Week Range: $36.07
PE Ratio: 0.202
Volume: 3,808,700,000
EPS: $201.67
Dividend Yield: -0.153
Beta: 0.073