Deadline Speculations for a Solana ETF Ramp Up: Analysts Predict Mid-March Timeline

Analysts say the deadline for a decision on Solana ETFs is expected to be around mid-March 2025.

This comes after the Chicago Board of Options Exchange (CBOE) on Monday filed applications to list proposed ETFs from VanEck and 21Shares.

The deadline for making a decision is mid-March.

Bloomberg ETF analyst Eric Balchunas noted that the Solana ETF is expected to have a deadline of mid-March 2025. However, he stressed that November is the most important date in the meantime.

Solana’s ETFs look set to expire in mid-March 2025. But between now and then, the most important date is November. If Biden wins, these ETFs will likely expire. If Trump wins, anything can happen. https://t.co/ywkf6oA8Rc

— Eric Balchunas (@EricBalchunas) July 8, 2024

On July 8, the Chicago Board of Options Exchange filed two Form 19b-4 applications, one for the 21Shares Core Solana ETF and the other for the VanEck Solana Trust. These potential funds are similar to previously approved Bitcoin and Ether ETFs, which received SEC approval in January and May, respectively.

“Similar to Bitcoin and ETH, the exchange believes that SOL is resistant to price manipulation and that there are ‘other means of preventing fraudulent and manipulative acts and practices’ to justify waiving the required control sharing agreement,” both filings state.

Head of ETF Shop Nate Geraci male That once the SEC acknowledges the filings, “the clock will start ticking.”

Under SEC rules, the agency has 240 calendar days to decide whether to approve or deny the Chicago Board Options Exchange’s 19b-4 application to list products from VanEck and digital asset manager 21Shares. These are the first proposed ETF products tied to the price of Solana, the fifth-largest cryptocurrency.

Political climate could be key to Solana ETF approval

Bloomberg senior ETF analyst Eric Balchunas offered additional insight, noting that the outcome of the November presidential election could play a significant role.

“If Biden wins, this is likely to happen,” Balchunas said. “If Trump wins, anything can happen.”

Recent research by GSR Markets predicts that Solana’s price could rise nine-fold with potential ETF approvals, similar to the historic price surge seen by Bitcoin.

According to the research, support for the crypto industry from figures like former President Donald Trump has softened opposition from Democrats, leading to bipartisan support for regulatory frameworks that could enable new crypto opportunities, paving the way for Solana ETF approvals.

“We are now dealing with the growing interest from investors in Solana – one of the most traded cryptocurrencies after Bitcoin and Ethereum,” said Rob Marocco, Head of ETP Listings at CBOE.

VanEck and 21Shares initially filed with the Securities and Exchange Commission in June to launch the new products. The SEC also must approve their S-1 filings before the products can begin trading.