Thu, June 27, 2024 at 19:34

• 

  Kang-hoon

  • Hello Annie, today I have some intriguing news about the potential approval of a Solana ETF in the US.

  • Bloomberg's chief ETF analyst, James Seifat, mentioned this on Sunday.

  • 
• Annie

  • Oh, really?

  • That's exciting!😊 What did he say exactly?

  
• 

  Kang-hoon

  • Seifat said that a Solana ETF could be approved in 2025.

  • Currently, there's only an S-1 filing for the Solana ETF, but not a 19b-4 filing.

  • If the 19b-4 application is filed today, the final deadline for approval would be mid-March 2025.

• Annie

  • I see.

  • So, this is the first time a Solana ETF has been filed in the US, right?

  
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• 

  Kang-hoon

  • Yes, that's correct.

  • Seifat mentioned that this is indeed the first Solana ETF filing in the US.

  • It will be interesting to see if other issuers follow suit immediately.

• Annie

  • Given the SEC's recent approval of a Bitcoin ETF in January and their current process of approving several spot Ethereum ETFs, do you think this trend will continue with other altcoins?

  
• 

  Kang-hoon

  • Absolutely.

  • Following the SEC's shift in attitude toward Ethereum, several analysts have predicted that ETF issuers will likely push to launch other altcoin ETFs.

  • Ripple CEO Brad Garlinghouse even predicted that the approval of several altcoin ETFs, including Solana, would be inevitable.

• Annie

  • Wow, that's quite a prediction!

  • How has the market reacted to this news?

  
• 

  Kang-hoon

  • The market reacted positively.

  • The price of Solana (SOL) soared following the news.

  • 

  • On CoinMarketCap, SOL was trading at $148.02 in the afternoon New York City time, up 8.96% from 24 hours earlier.

• Annie

  • That's a significant increase!

  • Do you think this trend will continue?

  
• 

  Kang-hoon

  • It's possible.

  • If the momentum continues and the 19b-4 filing is submitted soon, we could see further positive movement in Solana's price.

  • However, market conditions and regulatory decisions will play crucial roles.

• Annie

  • Interesting.

  • Do you think the potential approval of a Solana ETF would have a broader impact on the crypto market?

  
• 

  Kang-hoon

  • Yes, it could.

  • Approval of a Solana ETF would likely boost investor confidence in altcoins and could lead to increased interest and investment in other altcoins as well.

  • This could result in a more diversified and robust crypto market.

• Annie

  • That sounds promising!

  • Do you think this news is a good or bad sign for investors?

  
• 

  Kang-hoon

  • Overall, I believe this news is a positive sign for investors.

  • The potential approval of a Solana ETF indicates growing acceptance and legitimacy of altcoins in the financial market.

  • This could lead to more investment opportunities and potentially higher returns for investors.

• Annie

  • Thank you, Kang-hoon!

  • This has been very insightful.😊

  
• 

  Kang-hoon

  • You're welcome, Annie.

  • I'm glad I could help.

  • Have a great day!

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.