The chances of the U.S. Securities and Exchange Commission (SEC) approving a spot Solana exchange-traded fund (ETF) are significantly increasing.
Recent data shows that the likelihood of a SOL ETF approval has jumped to 71%, rising from 58% earlier this week and 50% last month.
This uptick in approval odds is attributed to the upcoming presidency of Donald Trump and the nomination of Paul Atkins as the SEC chair. President-elect Trump has also initiated the formation of a crypto advisory council, appointing Bo Hines as executive director and David Sacks, a former PayPal executive, as the designated “crypto czar.”
A spot Solana (SOL) ETF approval would follow a series of rejections by the SEC for applications from companies such as 21Shares, Canary Capital, and VanEck, under the prior leadership of Gary Gensler, who labeled Solana as an unregistered security.
The improved outlook for a SOL ETF suggests that investors believe the regulatory approach under Atkins will diverge from that of Gensler and his predecessor, Jay Clayton.
In a related development, VolatilityShares has submitted a filing for futures-based Solana ETFs, offering users 1x, 2x, and -1x exposure to the cryptocurrency. This application has drawn attention due to the fact that Solana futures do not currently exist.
VolatilityShares is known for its leveraged ETFs, including the popular 2x Bitcoin ETF, which boasts over $3.2 billion in assets. Its 2x Ethereum ETF has also garnered significant attention, amassing over $830 million in assets under management.
Solana has emerged as a leading cryptocurrency and blockchain project, with its token holding a market capitalization exceeding $90 billion, making it the sixth-largest cryptocurrency overall.
Additionally, Solana is recognized as the second-largest blockchain network, with over $8.25 billion in assets. Its decentralized exchange (DEX) protocols, such as Raydium and Orca, are at the forefront of trading volume, having processed over $636 billion cumulatively and $18.9 billion in just the last week.
This increasing momentum suggests that approval for spot Solana ETFs could attract significant investor capital, particularly as many have already shown enthusiasm for Ethereum ETFs.
Recent statistics indicate that Ethereum ETFs have successfully attracted over $2.68 billion in inflows, highlighting a robust interest within the cryptocurrency investment landscape.
