Bloomberg Analyst’s First Reaction to VanEck’s Historic Move with Solana: Announcement of Possible Approval Date for SOL ETF!
The initial response to VanEck’s application for a Solana ETF in the US came from James Seffart, a senior ETF analyst at Bloomberg.
VanEck’s recent move to apply for the first-ever Solana ETF in the United States has made waves in the ETF industry. In their submission to the Securities and Exchange Commission (SEC), VanEck argued that Solana (SOL) should be classified as a commodity.
This development has led experts to speculate that other companies, like VanEck, may also apply for a SOL ETF in the near future. James Seyffart, a Bloomberg senior ETF analyst, offered his insight on the matter, suggesting that the approval of Solana ETFs could happen in 2025.
Seyffart noted that the current application for SOL ETFs is an S-1 filing, with no 19b-4 application yet. However, if the 19b-4 application is submitted today, the deadline for SOL ETFs could be around mid-March 2025.
“The first SOL ETF application has been filed in the US. It will be interesting to see if other issuers will quickly follow suit. Based on initial thoughts, SOL ETFs may only have a chance to launch in 2025 if we have a new administration in the White House and SEC. As of now, there is no set deadline because this application is still at the S-1 stage. We have yet to see a 19b-4 filing that would provide an idea of the deadline. If a 19b-4 filing is made today, the deadline will likely be around mid-March 2025.”
Following VanEck’s application, the price of SOL saw an increase and reached over $150. At the time of writing, it is trading at $149.7.
James Seyffart shared his thoughts on Twitter, stating that the launch of the first SOL ETF in the US will be contingent on various factors, including a potential change in administration.
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