Breaking: Grayscale Investments Files For Solana ETF

Asset Management firm Grayscale Investments has applied to list a spot Solana ETF product with the New York Stock Exchange (NYSE). This filing places Grayscale among the growing list of firms now pressing to list the product in the United States. Grayscale Solana ETF: The Prospect According to the filing, the Digital Currency Group (DCG) subsidiary plans to uplist the Grayscale Solana Trust as a full-fledged ETF product. The ETF will trade under Rule 19b-4 on NYSE Arca. This filing makes Grayscale the fifth asset manager to file for a Solana ETF product. Previous Canary Capital , VanEck, 21Shares, and Bitwise have made related move before now. The industry is anticipating a shift in the leadership of the US Securities and Exchange Commission (SEC). With this shift, the market is expecting more leniency in crypto policies that may help usher in a SOL ETF product. The signs are there already as Coingape reported earlier that SOL ETF applicants are in advance talks with the SEC . The question of whether the US SEC will approve the crypto ETF product is heating up on crypto X. James Seyffart, Bloomberg Senior ETF Analyst believes a Solana Exchange Traded Fund product will gain approval. However, he expressed doubt regarding the timeline. Per his projections, the new product might gain approval as early as August 2025 and it might extend into 2026. Yes — eventually. Will know within the next few days if it potentially happens as early as August orrrrr if they have to wait till later 2025 or into 2026. — James Seyffart (@JSeyff) December 3, 2024 Will BlackRock and Fidelity Join The Trend? In subsequent question and answer session, Seyffart was asked if the approval timeline can change if BlackRock and Fidelity Investments joins the growing Crypto ETF train. Responding, he noted that “theoretically its possible a new admin wouldn’t follow how things have been done for decades.” He said though there might be a change in the US SEC’s leadership, the new executives might not want to “rush to approve these things,” even if they are accomodative. Beyond Solana ETF, asset managers have also made moves for a Litecoin ETF, XRP ETF and Hedera ETF . With the growing list, there are speculations that more applicants will join the train in the future. The post Breaking: Grayscale Investments Files For Solana ETF appeared first on CoinGape .