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- SEC opened a 21-day comment period for the proposed list of Siva Solan ETF
- Analysts see SEC certificate as a potential turning point for Solana ETF approval
The US Securities and Exchange Commission opened a 21-day comment on the proposal of NYSE ARCA for the list and trading of Greyscale Solana Trust.
The submission, officially recognized as a 19B-4 application, is part of the effort to expand investment products related to the crypt.
As the commentary period takes place, participants in the industry are carefully viewed by the development and consequences for the wider crypto market.
SEC acknowledges 19B-4 submission of requests for Gray Solana Trust
American Sec’s acknowledged the 19B-4 report from the NYSE arca for the Solan (Sol) to ETFS. This indicates an important step in a two-piece process to start the Spot Krypto ETF.
The first part involves the exchange that proposes the list, followed by an overview of the SEC -Ai public comment period.
SEC has opened a 21-day public comment window after posting in the Federal Register. The stakeholders in the industry, investors and interested parties are invited to submit their views on the proposal.
After the commentary period is over, the sec will decide whether to approve the proposal, refuse it or initiate further proceedings to decide whether the proposed change of the rules should be refused.
This procedure ensures that the list in accordance with all regulations and deals with potential problems on the market.
Solana ETF: reactions and significance of analysts
The knowledge of the SEC has attracted the attention of analysts, hint at a potential movement in the attitude of the Commission so far on ETFs based on cryptocurrencies.
Bloomberg analyst, James Seyffart, emphasized the importance of this development, noting that SEC had previously refused to consider similar Solan submissions. About this, Seyffart said:
The sec he just admitted to Gray Solane 19b-4. This is actually news because sec refused to do it in recent attempts to sign up for salt
Eric Balchunas, another Bloomberg analyst, pointed out A significant shift in the SEC approach, especially since it is the first time the agency has admitted that the application of ETF has been accompanied by a crypto currency that has been previously classified as “security”.
Just six weeks ago, SEC led by Genza told Cboe to withdraw his Solana 19B-4. So, now we are in a new territory, although only a child’s step, but a seemingly direct result of the change of leadership.
This shift in the SEC politics is significant, which suggests an increasing openness to rethinking the way digital funds, especially salt, view the regulatory frame.
Although the application recognition does not guarantee the approval, it indicates an important turning point in the current dialogue on the crypto regulations. This could put the path to future approval of the Spot Crypto ETF.
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Change of regulatory landscape and potential influence
President Donald Trump’s mandaj increased his attention to the cryptocurrency regulation, creating a crypto working group within SEC.
Led by commissioner Hester Peirce, the working group aims to clarify the regulatory path for the Crypto Currency, especially the determination of which digital assets can be classified as value papers.
This initiative could simplify the procedure for approving the cryptocurrency of the product, promoting greater institutional involvement and providing clearer guidelines on market respect.
