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Solana ETF: Approval just before-drive forecasts Sol Prize!
Bloomberg's Eric Balchunas reports about the 100%chances of approving a Solana ETF and the new SEC standards.
Solana ETF: Approval just before-drive forecasts Sol Prize!
In a remarkable step for the cryptocurrency market, the gambling players from Bloomberg share the assessment that the opportunities for the approval of a Solana ETF are 100 %. The ETF analyst Eric Balchunas emphasizes that several issuers have submitted revised applications for Solana Spot ETFs. These developments are the result of various regulatory progress, which have significantly accelerated the approval process.
The U.S. Securities and Exchange Commission (SEC) has withdrawn all delay announcements for a number of crypto ETFs. According to Balchunas, these changes are due to the introduction of new generic list standards for crypto-supported raw material funds that have largely made the 19B-4 applications and their review periods. The new standards have abolished the previous review period of 240 days for ETF suggestions.
Regulatory changes and their effects
The final approval of the ETFs now depends on the S-1 registration applications, which require the approval of the Department of Corporate Finance of the SEC. From September 30th, several ETF issuers have submitted revised applications to meet the new standards. These S-1 permits are the last step before the ETFs can come onto the market.
At least nine issuers have currently submitted applications to start Solana ETFs, in addition to suggestions for XRP, Litecoin and Cardano. Previously, the SEC had delayed decisions on these proposals under the traditional review process. On September 29, however, the SEC withdrew all remaining delay announcements for these applications.
Market analysis and price expectations
The market expectations for October are high because several permits for Altcoin ETFs are expected. Analysts indicate that the approval of a Solana ETFs could possibly drive the SOL price towards $ 260. At the time of the analysis, SOL acted at $ 210.61 and recorded an increase of 1.1 % that day.
The changes in the regulatory framework and the obvious progress in the approval of ETFs show that the cryptocurrency sector develops dynamically and moves closer to wider acceptance. These developments could have significant effects for both investors and the overall market.