In a pivotal move for the cryptocurrency sector, the Solana ETF applications from four financial institutions—including VanEck, 21Shares, Canary, and Bitwise—are set to face a crucial deadline established by the SEC on January 25, 2025. These transactions were formally accepted under the 19b-4 submissions on November 21, 2024, according to recent data from Bloomberg Terminal. The SEC is mandated to render an initial decision on these applications within 45 days, a process that could result in approval, denial, or further postponement.
Additionally, Grayscale’s attempt to convert its Solana Trust Fund into an ETF is also approaching a significant milestone, with a deadline on January 23, 2025. Industry experts believe the SEC might adopt a consistent stance when assessing the various Solana ETF applications, potentially standardizing the regulatory framework around this rapidly evolving asset class. As the deadline approaches, stakeholders are closely monitoring the developments in the regulatory landscape, underscoring the importance of compliance in the cryptocurrency market.