VanEck and 21Shares filed an application for the Solana ETF with the Chicago Board Options Exchange (Cboe) on July 8, and the SEC confirmed receipt of the application. While this development excited Solana investors, analysts predicted a possible approval process.
Bloomberg ETF analyst Eric Balchunas noted that the deadline for Solana ETF applications is mid-March 2025. However, emphasizing that the most critical date is November 2024, Balchunas said that if Biden wins, the applications may be rejected, while if Trump wins, anything is possible.
Rob Marrocco, global head of ETP listings at Cboe Global Markets, said Solana is the most popular cryptocurrency project after Bitcoin and Ethereum. Marrocco said they are now addressing investor interest in Solana, noting that the first US spot Bitcoin ETFs were successfully listed on the Cboe exchange and that they have received SEC approval for spot Ethereum ETFs.
