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Is the Solana ETF ready to launch?
The main obstacle to launching an ETF on SOL has been regulatory issues. Solana cryptocurrency and a few others were classified as securities.
However, that changed dramatically today as the SEC amended its lawsuit against Binance, no longer alleging that the exchange facilitated trading in "cryptocurrency securities."
In that lawsuit, the cryptocurrencies SOL, BNB, BUSD, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI were classified as securities.
Therefore, the "securities" status from these cryptocurrencies will likely be removed. And that will open the door for the Solana-ETF.
But there is a nuance: BlackRock, for example, will focus only on Bitcoin and Ethereum ETFs in the near future, with no plans to expand. Therefore, the launch of ETFs on Solana will be handled by VanEck, Grayscale and other funds with less influence. 0 reply
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