Will there be a Solana ETF in March 2025?

As early as eight months from now, the Solana ETF could become a reality. So claims Bloomberg senior ETF analyst Eric Balchunas.

Two applications, one deadline: Until March 2025, the decision on the Solana-ETF expect. So writes Eric Balchunas at X (formerly Twitter), Bloomberg's senior ETF analyst.

However, he sees a chance of success only if Trump wins the presidential election. Under Biden, the application would be rejected. Trump profiles himself as a "pro-crypto president," and many in the industry hope his victory will also bring with it a power shift in crypto-politics.

A major stumbling block: the SEC considers Solana explicitly as a security. The SEC made this clear in lawsuits against Binance and Coinbase in the summer of 2023. Under this definition, a spot ETF is not possible.

What could further positively influence development is the FIT21 Act. This crypto law is currently being debated in the US. The act explicitly requires a division of crypto powers between the SEC and the CFTC, the U.S. commodity watchdog. This includes legal clarity on what should be considered a good and what should be considered a security.

21Shares and VanEck briefly served the first applications for a Solana ETF in.