News View Non-AMP

Gensler-led SEC Set to Reject Solana Spot ETF Filings: Report

Published by
Anjali Belgaumkar

The last few months have seen a series of significant developments in the cryptocurrency space, especially regarding Solana (SOL) and its potential ETF. There were key announcements like the Solana ETP in Canada and the launch of a $60 million Solana startup fund, followed by VanEck’s filing for a Solana ETF. 

The filing has sparked increased interest, as VanEck sees Solana as a competitor to Ethereum, praising its scalability, speed, and low costs—factors that make it ideal for payments, trading, gaming, and decentralized finance.

However, in a latest development, Fox Business journalist Eleanor Terrett shared on X that she has confirmed the SEC has informed at least two of the five prospective issuers that it will reject their 19b4 filings for the SOL spot ETFs. Sources suggest that the SEC is unlikely to approve any new crypto ETFs under the current administration.

When a user speculated that at least one ETF could be approved, Terrett replied and said,

“The SEC won’t approve just one or a couple and not the others. Remember the bitcoin ETFs? Eleven launched on the same day.”

James Seyffart and other analysts predict that the Solana ETF might not launch until 2025, particularly if there is a regime change at the SEC. However, the progress made recently, combined with ongoing ETF filings for other crypto assets, signals the potential for more growth in the crypto market over the coming years.

Despite setbacks in the Solana ETF race, the future still looks bright—read our Solana price prediction to see where this crypto could go next!

In Other News….

The SEC has responded to a request to dismiss its amended lawsuit against cryptocurrency exchanges Binance and Binance.US, as well as former CEO Changpeng Zhao. The SEC’s brief opposes Binance’s motion to dismiss the lawsuit, which claims that Binance operated an unregistered securities exchange. The SEC also alleges that Binance sold several cryptocurrencies, including BNB, as unregistered securities. Binance had previously sought to dismiss these allegations, challenging the SEC’s interpretation.

Reflecting on the same, Ripple CLO said,

“Instead of standing down and pausing crypto litigation with new leadership just weeks away, Gensler’s SEC filed an 81-page brief in the Binance case yesterday, recycling the same failed arguments—including the absurd (and unsupported) claim that crypto has no inherent value.”

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Time to buy XRP? $55 million of Asset Outflow from Exchanges

XRP, the native token of Ripple Labs, is gaining massive attention from long-term holders despite…

April 4, 2025

Crypto Market Hit New Lows—Investors Looking Elsewhere? Ozak AI’s $0.003 Entry Looks More Promising!

The crypto market has recently experienced a vast downturn, with most important projects such as…

April 4, 2025

BTC Price Volatility Spikes Up—Is it a Good Time to Buy Bitcoin?

The US markets are experiencing one of the massive pullbacks, with major stocks plunging by…

April 3, 2025

Forget PEPE – Influencer Pepe (INPEPE) is the Future of Meme Coins with Real Utility!

PEPE hopped its way to a $3.8 billion market cap, but its reign as a…

April 3, 2025

Ripple (XRP) Eyes $10 as Ruvi AI (RUVI) Captures Investor Attention with Huge Growth Potential During Presale Phase 1

Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…

April 3, 2025

How High Can Influencer Pepe Go? Expert Predictions for 2025-2030!

The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…

April 3, 2025