Solana ETF Approval In 2024 Has Only A 6% Chance: 'A Snowball's Chance In Hell,' ETF Analyst Says
Portfolio Pulse from Murtuza Merchant
The likelihood of a Solana-based ETF being approved in 2024 is very low, with only a 6% chance according to Bloomberg's Eric Balchunas. The SEC's rejection of Cboe BZX's filings for Solana ETFs and regulatory concerns about classifying Solana as a security contribute to this pessimistic outlook.
August 20, 2024 | 6:03 pm
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NEGATIVE IMPACT
The SEC's rejection of Solana ETF filings and regulatory concerns about Solana being classified as a security significantly reduce the chances of a Solana ETF approval in 2024, impacting Solana's market perception and potential institutional adoption.
The SEC's rejection of Solana ETF filings and concerns about its classification as a security create a negative regulatory environment, reducing the likelihood of approval. This impacts Solana's market perception and potential for institutional investment, likely leading to short-term price pressure.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80