DIGIVESTASI - The Solana ETF was recently rejected by the United States Securities and Exchange Commission (SEC). According to Fox journalist Eleanor Terrett, the 19b-4 filing for the Solana ETF was denied several weeks ago.

"Solana ETF did catch the attention of SEC staff, but ultimately, the 19b-4 filing was rejected," Terrett stated on her X account.

This rejection reflects the SEC's stringent policy on crypto assets, particularly under the leadership of Gary Gensler. However, this scenario might change as Gensler is scheduled to step down on January 20, 2025.

SEC policies often shift with changes in leadership, fostering hope that the Solana ETF may have better prospects in the future. For now, the fate of the Solana ETF hinges on the new SEC chairman's approach.

Litecoin: A Strong Candidate for ETF Approval

Meanwhile, Litecoin ETF has emerged as the most likely altcoin to secure approval. Bloomberg Senior ETF Analyst Eric Balchunas mentioned that the SEC has provided positive feedback on the Litecoin ETF application.

"We’ve heard that the S-1 filing for Litecoin has received feedback from the SEC. This aligns with our prediction that Litecoin is the most probable altcoin to be approved next," Balchunas shared on X.

Another Bloomberg analyst, James Seyffart, revealed that Canary Capital recently updated the S-1 documentation for their Litecoin ETF application. "CanaryFunds just filed an updated S-1 document for their Litecoin ETF submission," Seyffart explained.

Although no 19b-4 filing has yet been submitted—a crucial step to officially begin the SEC’s decision countdown—this progress demonstrates active dialogue between the applicant and the SEC.

Future Prospects for Solana and XRP

Beyond Solana, XRP ETF is facing similar challenges in gaining SEC approval. The SEC's stringent stance under Gary Gensler has been a significant hurdle for both altcoins.

However, a change in SEC leadership offers renewed optimism. If Solana and XRP ETFs manage to gain approval, it could have a substantial impact on the crypto market by increasing institutional investor interest and broadening global adoption of crypto assets.

Temukan berita dan artikel lainnya di Google News