{"id":20983,"date":"2025-02-07T14:34:47","date_gmt":"2025-02-07T12:34:47","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-reviews-grayscales-solana-etf-application\/"},"modified":"2025-02-07T14:34:47","modified_gmt":"2025-02-07T12:34:47","slug":"sec-reviews-grayscales-solana-etf-application","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-reviews-grayscales-solana-etf-application\/","title":{"rendered":"SEC Reviews Grayscale&#8217;s Solana-ETF Application"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has <a href=\"https:\/\/www.sec.gov\/rules-regulations\/self-regulatory-organization-rulemaking\/sr-nysearca-2025-06\">accepted<\/a> an application from <span data-descr=\"New York Stock Exchange\" class=\"old_tooltip\">NYSE<\/span> Arca for a rule change, which would allow the listing of a spot exchange-traded fund based on Solana-ETF from Grayscale Investments.<\/p>\n<p>The agency has requested public comments. The feedback period will last 21 days following the document&#8217;s publication in the federal register.<\/p>\n<p>Bloomberg analyst Eric Balchunas highlighted that this is the first instance of an application being accepted for an altcoin that the regulator has classified as a &#8220;security.&#8221; His colleague James Seyffart noted that the Commission had previously rejected SOL-ETF proposals.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Notable bc this is the first time an ETF filing tracking a coin that had prev been called a &#8220;security&#8221; has been acknowledged by SEC. Only six weeks ago the Genz-led SEC told CBOE to withdrawal their Solana 19b-4. So we are now in new territory, albeit just a baby step, but\u2026 <a href=\"https:\/\/t.co\/XiRyA8g3R7\">https:\/\/t.co\/XiRyA8g3R7<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1887623284692271554?ref_src=twsrc%5Etfw\">February 6, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Six weeks ago, the SEC under <\/em><a href=\"https:\/\/forklog.com\/en\/news\/gary-genslers-departure-a-retrospective-on-the-sec-chairs-tenure\"><em>[Gary] Gensler<\/em><\/a><em> required the <span data-descr=\"Chicago Board Options Exchange\" class=\"old_tooltip\">CBOE<\/span> [to withdraw the application] for Solana 19b-4. Now we are in new territory [\u2026] It seems [this] is a direct result of the leadership change,&#8221;<\/em> explained Balchunas.<\/p>\n<\/blockquote>\n<p>On February 6, the regulator also <a href=\"https:\/\/www.theblock.co\/post\/339313\/sec-makes-its-move-and-asks-public-for-comments-on-grayscales-litecoin-etf\">requested comments<\/a> regarding the conversion of Grayscale Litecoin Trust into an ETF.<\/p>\n<p>Earlier, Hester Peirce, who leads the SEC&#8217;s dedicated &#8220;crypto group,&#8221; stated that the agency&#8217;s priorities include determining which assets are not securities and establishing a clear procedure for registering new tokens.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Target: $520 by Year-End<\/strong><\/h2>\n<p>VanEck has <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/02\/07\/vaneck-sees-solana-s-sol-touching-usd520-in-2025\">forecasted<\/a> Solana&#8217;s rise to $520 by the end of 2025.\u00a0<\/p>\n<p>Experts cited the anticipated increase in <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%94%D0%B5%D0%BD%D0%B5%D0%B6%D0%BD%D0%B0%D1%8F_%D0%BC%D0%B0%D1%81%D1%81%D0%B0\">money supply (M2 aggregate)<\/a> from $21.5 trillion to $22.3 trillion, which will support the growth of cryptocurrency markets and &#8220;top tokens&#8221; like SOL.<\/p>\n<p>Experts expect Solana&#8217;s market share to change from 15% to 22% in the smart contract platform market, which will grow by 43% to $1.1 trillion.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The forecast is supported by the network&#8217;s dominance among developers, strengthened positions in <\/em><em>DEX<\/em><em> volumes, revenues, and active users,&#8221;<\/em> the review states.<\/p>\n<\/blockquote>\n<p>Back in January, the Commission <a href=\"https:\/\/forklog.com\/en\/news\/sec-accepts-nasdaqs-application-for-canarys-litecoin-etf\">began reviewing<\/a> Nasdaq&#8217;s proposal to launch a Litecoin-based exchange fund from Canary Capital.<\/p>\n<p>The SEC is also focused on <a href=\"https:\/\/forklog.com\/en\/news\/solana-reaches-all-time-high-amid-four-sol-etf-listing-applications\">five applications<\/a> for Solana-ETF from VanEck, 21Shares, Canary, Bitwise, and Grayscale. Additionally, in November, <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-files-for-spot-xrp-etf-registration\">Bitwise<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/21shares-seeks-sec-approval-for-spot-xrp-etf\">21Shares<\/a> submitted documents to launch spot XRP products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has accepted an application from NYSE Arca for a rule change, which would allow the listing of a spot exchange-traded fund based on Solana-ETF from Grayscale Investments. The agency has requested public comments. The feedback period will last 21 days following the document&#8217;s publication in the federal register. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,943,36,1159],"class_list":["post-20983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-grayscale-investments","tag-regulation","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20983"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20982"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}