According to Odaily, journalist Eleanor Terrett reported on the X platform that the U.S. Securities and Exchange Commission (SEC) has informed at least two out of five potential issuers that their 19b4 applications for a SOL spot ETF will be rejected. Terrett noted that the prevailing consensus is that under the current administration, the SEC is unlikely to approve any new cryptocurrency ETFs.
This development highlights ongoing challenges faced by cryptocurrency issuers in gaining regulatory approval for exchange-traded funds. The SEC's stance reflects broader regulatory hesitations concerning the approval of crypto-related financial products. Market participants have been closely monitoring the SEC's decisions, as approval of such ETFs could significantly impact the cryptocurrency market by increasing institutional investment and mainstream acceptance.
The rejection of these applications underscores the regulatory hurdles that continue to impede the progress of cryptocurrency financial products in the United States. As the SEC maintains a cautious approach, the future of crypto ETFs remains uncertain, with issuers and investors eagerly awaiting any shifts in regulatory policy that might pave the way for new opportunities in the crypto market.
