The U.S. Securities and Exchange Commission (SEC) is about to reject the applications for spot Solana exchange-traded funds (ETFs) submitted by several asset management companies. According to Fox News reporter Eleanor Terrett, the SEC has made it clear that under the current government leadership, it will not consider approving any new cryptocurrency ETFs. Will the market be affected?
As a directly related cryptocurrency asset, Solana (SOL) may face selling pressure, as investors may reduce their demand for SOL due to a loss of market confidence.
The SEC's stance on rejecting cryptocurrency ETFs could further impact investors' confidence in the regulatory environment of the U.S. market, exacerbating uncertainty about the future development of the cryptocurrency market, which may lead to volatility in the prices of other cryptocurrencies in the short term.
If the U.S. continues to take a conservative stance on crypto ETFs, other countries or regions may seize the opportunity to offer a more relaxed regulatory environment, attracting cryptocurrency projects and investors to shift to overseas markets.
Although this rejection may dampen short-term sentiment, as the leadership of the U.S. government may change next year, and with the new chairman Paul Atkins having a relatively friendly attitude towards cryptocurrency policies, expectations for the approval of future ETFs still exist.