Following the SEC’s approval of spot Ethereum ETFs, all eyes turned to other altcoin ETFs, with Solana being the first candidate.
At this point, while the first Solana ETF applications have come from VanEck and 21Shares, it is stated in the market that the probability of SOL ETFs being approved is low.
As expectations for the SOL ETF have waned, CF Benchmarks CEO Solana said ETF approval is dependent on the regulated SOL futures market.
Speaking to DL News, CF Benchmarks CEO Sui Chung noted that the Solana ETF is still a long way from launch.
He noted that it is unlikely that the U.S. Securities and Exchange Commission (SEC) will approve a spot Solana ETF until a large, regulated futures market for Solana is established.
“Solana ETFs are not going to happen anytime soon — or at least not on the same basis that Bitcoin and Ethereum approvals are happening.
“This is because there are no large, regulated Solana futures markets. At this point, the SEC says that no spot crypto ETFs can be traded on US exchanges until there is a highly correlated, regulated futures market for the underlying asset.”
*This is not investment advice.
