Solana (SOL) ETF Enters Federal Register With Oct. 16 Deadline

According to FOX Business writer and shaper Eleanor Terrett, Solana (SOL) ETF filings for respective institutions person entered the Federal Register. According to Terrett’s X post, the filings see those by Grayscale, Vaneck, Canary Capital, Bitwise, and 21Shares.

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The X station notes that the filings entered the Federal Register connected Feb. 18. The writer says that the improvement has started a 240-day timepiece for the SEC. The fiscal regulator has until Oct. 16 to walk a judgement connected the SOL ETF filings.

NEW: $SOL ETF filings for @Grayscale, @vaneck_us, @CanaryFunds, @BitwiseInvest and @21Shares were entered into the Federal Register yesterday connected February 18, starting the 240-day timepiece for the @SECGov to prosecute and either o.k. oregon contradict these products connected oregon earlier October 16. pic.twitter.com/NlMAO7fF9j

— Eleanor Terrett (@EleanorTerrett) February 19, 2025

Will The SEC Approve A Solana ETF?

Source: Binance

The SEC approved Bitcoin (BTC) and Ethereum (ETH) ETFs successful 2024. The improvement opened the doors for much crypto-based ETFs successful the US. There is simply a precocious accidental that the SEC volition o.k. an SOL ETF sometime this year.

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According to a study by Bloomberg ETF analysts Eric Balchunas and James Seyffart, determination is simply a 70% accidental that the SEC volition o.k. a SOL ETF this year. The duo notes that the fiscal regulator has acknowledged the 19b-4 filing for the asset. Despite the affirmative outlook for a SOL ETF, the SEC does not presumption SOL arsenic a commodity. The SEC not accepting SOL arsenic a commodity could contiguous a obstruction to the ETF process. How things unfold is yet to beryllium seen.

NEW: @EricBalchunas and I took a look astatine the filings for spot crypto ETFs. We're putting retired comparatively precocious likelihood of support crossed the board. Mainly focused connected Litecoin, Solana, XRP, and Dogecoin for now.

Here's the array with the likelihood and immoderate different details: pic.twitter.com/xaXaNXLb0M

— James Seyffart (@JSeyff) February 10, 2025

How High Can The Asset Go If An ETF Is Approved?

Let’s presume that Solana’s (SOL) terms rises with the aforesaid fig arsenic Bitcoin (BTC) aft its ETF approval. BTC’s terms went from $46,105 connected Jan. 10, 2024, to $92,376 connected Jan. 10, 2025. The emergence successful worth translates to a rally of astir 100%. If SOL rallies by 100%, the asset’s terms volition deed $343.46. Reaching $343.46 would beryllium a caller all-time precocious for SOL.

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There is besides a anticipation that SOL volition not replicate BTC’s question aft an ETF launch. Ethereum (ETH) besides had an ETF motorboat successful 2024. Unlike BTC, ETH’s terms did not deed a caller all-time high. SOL could look a akin trajectory.