Bloomberg analyst: Solana spot ETF 'expected to pass' under new SEC chairman

After BTC and ETH Spot ETFs were listed, the market expected Solana Spot ETF to become the next listed cryptocurrency. However, according to Fox Business reporter Eleanor Terrett, the SEC has rejected at least two issuers’ 19b-4 applications for Solana Spot ETFs. Bloomberg analysts predict that issuers are expected to resubmit 19b-4 applications after the new SEC chairman takes office. Meanwhile, five issuers (21Shares, Canary Capital, VanEck, Bitwise, and Grayscale) have submitted 19b-4 applications for Solana Spot ETFs and are waiting for SEC approval. Grayscale’s 19b-4 application was submitted by NYSE Arca on the 4th, attempting to convert the $120 million Grayscale Solana Trust (GSOL) into an ETF. However, Fox Business reporter Eleanor Terrett tweeted yesterday that at least two of the five prospective issuers have been rejected by the SEC for their 19b-4 filings for Solana Spot ETFs. She also stated that under the leadership of the Biden administration, the SEC will not accept any new cryptocurrency spot ETFs. Bloomberg ETF analyst Eric Balchunas also cited Eleanor Terrett’s tweet yesterday, predicting that issuers will resubmit 19b-4 applications for Solana Spot ETFs after the new SEC chairman, Paul Atkins, takes office.