An analyst specializing in cryptocurrencies recently made a noteworthy prediction regarding the release date of Solana exchange-traded funds (ETFs) in cash. The outcome of the upcoming United States presidential elections could have either a positive or negative impact on the market. There is a belief within the community that if Donald Trump is elected, it could have a positive effect on the market and lead to the approval of ETFs.
Senior ETF Analyst at Bloomberg, Eric Balchunas, recently discussed the potential approval of these products. In an alert shared on July 8, Balchunas emphasized that the likelihood of the Securities and Exchange Commission (SEC) approving a cash-based Solana ETF would greatly depend on the outcome of the November election, specifically whether or not Trump is elected.
In his prediction, which Balchunas shared on his official X account, the analyst revealed that the deadline for spot Solana-based ETFs would fall in mid-March of the following year.
“It appears that the Solana ETFs will have until mid-March 2025 to meet their deadline. However, the most crucial date between now and then is in November,” Balchunas believes.
The Chicago Board Options Exchange (CBOE) recently made a significant development by filing applications to list the proposed Solana ETFs by VanEck and 21Shares on July 8. The company submitted two Form 19b-4 applications, one for the 21Shares Core Solana ETF and another for the VanEck Solana Trust.
VanEck, in particular, is betting on the success of a Solana ETF, anticipating a potential victory for Donald Trump. Matthew Sigel, the head of digital asset research at VanEck, clarified the speculation surrounding the launch of their Solana spot ETF, stating that its chances are tied to the outcome of the upcoming US presidential election. According to Sigel, VanEck’s bet on the Solana ETF aligns with the possibility of a favorable regulatory environment for crypto assets under Trump’s policies.
The deadline for the ETF application has been set for March 2025, indicating that VanEck strategically plans to launch it after the November 2024 presidential election. When asked about this connection, Sigel confirmed the correlation.
Disclaimer: The views and opinions expressed in this article, whether by the author or anyone mentioned, are solely for informational purposes and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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