Solana ($SOL ) Spot ETF: SEC Needs to Overturn Its Own Definition of Securities

The Solana ETF application has seen a recent development. A number of organizations have begun filing for SOL spot ETFs this year; Odaily previously reported that on February 12, the SEC accepted Solana spot ETF applications from 21 Shares, Bitwise, Canary Capital, and VanEck after a new leadership team took office. These organizations had previously withdrawn their applications due to regulatory concerns. Meanwhile, Franklin Templeton has also filed paperwork in Delaware to register the Franklin Solana Trust, potentially becoming another thread in the institutionalization of Solana assets.

However, Solana (SOL) is also facing regulatory issues. During the tenure of former Chairman Gary Gensler, the SEC classified SOL as an unregistered security in a number of lawsuits (e.g., the Coinbase and Coinbase lawsuits in 2023), adding to the complexity of operating in the U.S. market. Analysts have said that if the SEC ultimately chooses to approve the SOL ETF, it would be tantamount to publicly overturning its own previous definition of cryptocurrencies as securities, which may have adverse consequences for the SEC in court.

As a result, Bloomberg analysts Seyffart and Balchunas have predicted a 70 percent chance of approval for the SOL ETF. Based on the February 12 filing acceptance date, the SEC has until October 9, 2025 at the latest to issue a ruling. If you are feeling helpless, lost, or want to learn more about the cryptocurrency world and first-hand cutting-edge information, follow me and you will no longer get lost in this bull market! Claim Airdrops with me, whether you are a newbie or a veteran player, you can easily fit in. Pick up the Airdrop [👉#AI SGAi . top #BNBChainMeme热潮 👈😍 walk by and don't miss out!

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