Solana’s Spot ETF: A Marathon, Not a Sprint
The Crypto World Holds Its Breath
The cryptocurrency landscape is abuzz with anticipation as Solana takes a significant stride towards securing U.S. Securities and Exchange Commission (SEC) approval for a spot exchange-traded fund (ETF). This move comes on the heels of the world’s largest derivatives exchange, CME Group, launching Solana futures trading on March 17, 2025 (1). Let’s delve into the journey so far and the road ahead.
Bitcoin’s ETF Success: A Beacon of Hope
Bitcoin’s successful navigation into the world of ETFs has illuminated the path for other cryptocurrencies, including Solana. The SEC’s approval of spot Bitcoin ETFs has paved the way for other cryptocurrencies to follow suit (2). Solana, with its high throughput and low fees, is next in line to capitalize on this precedent.
Volatility Shares: A Regulated Gateway
Volatility Shares made headlines when it launched the first Solana Futures ETFs on the Depository Trust and Clearing Corporation (DTCC) on February 27, 2025. This move provided investors with a regulated trading option, further boosting Solana’s chances of a spot ETF approval (3). While Solana’s price has experienced a market-wide dip, trading around $139, or approximately 19% down in the past week, the long-term prospects for the cryptocurrency remain promising (4).
The Race for Solana Spot ETF Approval
Several heavyweights in the investment world have thrown their hats into the ring, filing for spot Solana ETF applications. Companies such as Bitwise, VanEck, 21Shares, Canary Capital, Grayscale, and Franklin Templeton are all vying for a piece of the Solana pie, signaling a growing interest in the cryptocurrency’s potential as a mainstream investment option (6).
The Odds: Favor Solana
Following the launch of Solana Futures trading on CME, analysts predict that the odds for Solana ETF approval have risen to 88%. This move is seen as a significant step towards ETF approval, with the exchange offering a variety of Solana futures contracts for trading (8).
The Road Ahead: A Probable 70% Chance
According to GPT predictions for IntelMarkets, there is a 70% chance that Solana ETFs will be approved in 2025. Companies have submitted a barrage of filings for Solana ETFs in recent weeks, further fueling the anticipation for a spot ETF approval (9).
Conclusion: A Marathon, Not a Sprint
Solana’s journey towards a spot ETF has taken significant strides with the launch of Solana Futures trading on CME and the listing of Solana Futures ETFs on DTCC. As the cryptocurrency world eagerly awaits the SEC’s decision, it’s essential to remember that this is a marathon, not a sprint. While the odds are in Solana’s favor, the road to a spot ETF approval is a complex and lengthy process. Nevertheless, one thing is clear: Solana’s future looks promising, and the cryptocurrency world is watching with bated breath.
Sources:
