US SEC Swatting Down Solana (SOL) ETFs Prior to Administration Change: Report
The U.S. Securities and Exchange Commission (SEC) is reportedly swatting down Solana (SOL)-based exchange-traded fund (ETF) applications in the final weeks of Gary Gensler’s tenure as the regulator’s chair. Fox Business journalist Eleanor Terrett, citing unnamed sources, says the SEC has notified at least two of the five SOL ETF applicants that their filings will be rejected. Terrett also says the current SEC administration has no plans to green-light any of the other applications. The financial firms VanEck, 21Shares, Canary Capital and Bitwise have all filed to offer SOL ETFs, and crypto asset manager Grayscale also recently applied to convert its Solana Trust into a spot exchange-traded fund. Eric Balchunas, a senior ETF analyst at Bloomberg, predicts the firms will reapply with the new SEC regime next year. “This was [Gensler’s] parting gift I guess.” After Donald Trump’s election victory last month, Gensler announced he ...