SEC faces first deadline to decide on Grayscale’s Solana Trust ETF conversion proposal

The SEC is set to make a decision regarding Grayscale’s application to convert its Solana Trust into an ETF by January 23, 2025. Furthermore, several firms, including VanEck and Bitwise, are anticipating outcomes on their own Solana ETF applications by January 25, 2025.

Despite the possibility of changes in the SEC’s leadership, immediate approval for Solana ETFs seems unlikely due to existing regulatory hurdles. Analysts predict a prolonged process, possibly extending a year or more before any Solana ETF gains approval.