Chicago Mercantile Exchange (CME) has provided some insight into the possibility of Solana Exchange-Traded Funds (ETFs) being launched. According to sources familiar with the matter, CME has indicated that it currently has no plans to introduce Solana Futures ETFs.
Nikolaos Panigirtzoglou, the Managing Director and Global Market Strategist at JPMorgan, recently expressed skepticism about the Securities and Exchange Commission (SEC) approving such funds. He cited the SEC’s belief that most cryptocurrencies are considered securities as a potential obstacle.
Panigirtzoglou suggested that if U.S. policymakers fail to pass legislation recognizing that most cryptocurrencies are not securities, the SEC may be more inclined to approve other crypto ETFs. However, he noted that there is currently no legislation in place to support this.
On May 23, the SEC approved the 19b-4 forms for eight spot Ethereum ETF applicants, including Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin. However, these ETFs’ S-1 filings still require SEC approval before trading can commence. Analysts anticipate that trading will begin in the coming weeks.
Please note that this article does not constitute investment advice. If you are interested in investing in over 300 cryptocurrencies, you can register with Binance exchange using this link to receive a 20% commission discount.
For exclusive news, analytics, and on-chain data, be sure to follow our Telegram and Twitter accounts.
Comments
