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Solana ETF Approval: Odds Soar as SEC Is Besieged by Crypto Horde!

BBG News

In this strange and unrelenting epoch, as spring’s mud still clings to the boots of the American regulators, Bloomberg Intelligence—those soothsayers in glass towers—have decreed with grave and mathematical certainty: the odds that US authorities will bless a Solana exchange-traded fund (ETF) in 2025 now stand at a grandiose 90%. The information crosses our digital airwaves, not as samizdat, but through X, that wild bazaar of opinion.

Other cryptocurrencies may yet squeeze through the regulatory barbed wire, too. Perhaps even the notorious XRP and Dogecoin, those persistent stragglers seeking refuge—but in this world, who has not felt like an altcoin cast into the bureaucratic snow? Analyst Eric Balchunas, wielding his X account like a cudgel, assures us the odds are suddenly friendlier, as if the SEC were simply waiting for a polite request and some warm slippers.

Back in February, the oracles at Bloomberg squinted sagely and offered Solana a mere 70% chance—about as encouraging as one’s ration of black bread in a Siberian winter. XRP was scraping by at 65%, DOGE at 75%. But hope, we are told, is a thing with odds, and nothing so easily detained when assets are lining up for inspection.

By the end of April, a cadre of six asset managers—Grayscale, VanEck, 21Shares (let us not forget the others lost to history’s footnotes)—waited in the anterooms of the US Securities and Exchange Commission. They clutched their prospectuses, shuffling uneasily, as if expecting to be called forward for judgment not by bureaucrats, but by the stern commissar of coins. The same number scheme for XRP. DOGE, perhaps feeling its own insignificance, needs only three.

Altcoin ETF mania

The parade of asset managers is now biblical in scale: dozens banging at the door, 70 filings awaiting review. One wonders if the SEC sits by candlelight, paging grimly through altcoin names as if reading the confessions of prisoners. The filings are said to be inspired by President Trump’s thawing of the regulatory permafrost, though whether the climate has truly shifted or only the rhetoric has warmed is a question fit for philosophers or climate scientists (or perhaps the local bartender).

March brought news of the Chicago Mercantile Exchange, a vast and moneyed bazaar, opening futures tied to Solana. “Futures,” indeed—a concept familiar to all who have ever queued for potatoes in winter and wondered if tomorrow would ever truly arrive.

Chris Chung, whose Titan platform toils in the digital trenches, claims the CME futures are an omen: SEC approval for ETFs must surely be upon us. Sometimes you must squint to see hope.

Yet with the precision of cold bureaucratic efficiency, analyst James Seyffart reminds us the timeline could creep into 2026. The SEC, like an old Soviet train, travels exactly as fast as historical precedent, taking 240–260 days to reach each destination. Pack sandwiches.

And in April, the always-ambitious Nasdaq (perhaps nostalgic for its former glory) begged the regulators to allow a 21Shares ETF packed with Dogecoin. No word yet if the application came with a photo of an actual shiba inu, or merely the usual stack of filings. Waiting, waiting; flipping the calendar pages as the digital winter slowly thaws. 🥶🚆💸

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2025-05-01 01:06

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