{"id":19278,"date":"2024-12-06T16:38:29","date_gmt":"2024-12-06T14:38:29","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-to-reject-two-solana-etf-applications-reports-suggest\/"},"modified":"2024-12-06T16:38:29","modified_gmt":"2024-12-06T14:38:29","slug":"sec-to-reject-two-solana-etf-applications-reports-suggest","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-to-reject-two-solana-etf-applications-reports-suggest\/","title":{"rendered":"SEC to Reject Two Solana-ETF Applications, Reports Suggest"},"content":{"rendered":"<p>The <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> has informed at least two of the five issuers of spot Solana-ETFs that it intends to reject their 19b-4 forms, according to Fox Business journalist Eleanor Terrett.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?SCOOP: I\u2019ve confirmed that the <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a> has notified at least two of the five prospective issuers that it will reject their 19b4 filings for the <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> spot ETFs. <\/p>\n<p>The consensus here, I\u2019m told, is that the SEC won\u2019t entertain any new <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> ETFs under the current administration.<\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1864874666445152672?ref_src=twsrc%5Etfw\">December 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the journalist, the Commission does not plan to consider any new cryptocurrency ETFs until there is a change in its leadership.<\/p>\n<p>Terrett emphasized that the rejection of two applications does not imply that the remaining three will be approved. She referred to the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">launch of 11 Bitcoin-ETFs<\/a> in a single day.<\/p>\n<p>Nate Geraci, President of ETFStore, also does not anticipate any progress on cryptocurrency exchange-traded funds under the current SEC administration.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">No surprise, but won\u2019t be any movement on spot crypto ETF filings until new leadership in place\u2026<\/p>\n<p>Lame duck. <a href=\"https:\/\/t.co\/DG7KOGG5PA\">https:\/\/t.co\/DG7KOGG5PA<\/a><\/p>\n<p>\u2014 Nate Geraci (@NateGeraci) <a href=\"https:\/\/twitter.com\/NateGeraci\/status\/1864875934580355247?ref_src=twsrc%5Etfw\">December 6, 2024<\/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>\u201cNo surprise, but there won\u2019t be any movement on spot crypto ETF filings until new leadership is in place,\u201d he noted.<\/p>\n<\/blockquote>\n<p>Experts believe that the launch of an ETF based on Solana&#8217;s price will eventually occur, but not until 2025. This will be facilitated by a change in the SEC&#8217;s chair and shifts within the U.S. government.<\/p>\n<p>Many in the community are hopeful for a more industry-friendly stance from Paul Atkins, the leading candidate for the SEC chair position. His colleagues have supported his nomination, praising his common sense and approach to innovation.<\/p>\n<p>Former SEC attorney John Reed Stark noted that Gary Gensler has placed like-minded individuals in key positions, making it challenging to alter the entrenched aggressive policy.<\/p>\n<p>Another encouraging factor for ETF issuers is the nomination of former PayPal COO David Sacks as the &#8220;czar&#8221; for AI and cryptocurrencies.<\/p>\n<p>Astronaut Capital&#8217;s Chief Investment Officer Matthew Dibb <a href=\"https:\/\/www.reuters.com\/world\/us\/trump-appoints-former-paypal-coo-david-sacks-ai-crypto-czar-2024-12-06\/\">described<\/a> him as an &#8220;experienced&#8221; user of digital assets and a supporter of Solana. According to <a href=\"https:\/\/x.com\/Cointelegraph\/status\/1865009062707929166\">Cointelegraph<\/a>, Sacks is an investor in the Solana-focused fund Multicoin Capital and believes this blockchain could surpass Ethereum.<\/p>\n<p>On November 21, the <span data-descr=\"Chicago Board Options Exchange\" class=\"old_tooltip\">CBOE<\/span> published 19b-4 forms for four spot Solana-ETF applications from VanEck, 21Shares, Canary, and Bitwise. A fifth application from Grayscale for listing on the NYSE Arca was <a href=\"https:\/\/www.nyse.com\/publicdocs\/nyse\/markets\/nyse-arca\/rule-filings\/filings\/2024\/SR-NYSEArca-2024-110.pdf\">submitted<\/a> on December 3.<\/p>\n<p>Earlier, Bloomberg analyst Eric Balchunas suggested that the SEC might receive applications for launching a Dogecoin-ETF.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC has informed at least two of the five issuers of spot Solana-ETFs that it intends to reject their 19b-4 forms, according to Fox Business journalist Eleanor Terrett. ?SCOOP: I\u2019ve confirmed that the @SECGov has notified at least two of the five prospective issuers that it will reject their 19b4 filings for the $SOL [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19277,"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":[569,36,128,1159],"class_list":["post-19278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-regulation","tag-sec","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19278"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/19277"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}