The U.S. Securities and Alternate Fee (SEC) is reportedly swatting down Solana (SOL)-based exchange-traded fund (ETF) functions within the remaining weeks of Gary Gensler’s tenure because the regulator’s chair.
Fox Enterprise journalist Eleanor Terrett, citing unnamed sources, says the SEC has notified at the least two of the 5 SOL ETF candidates that their filings shall be rejected.
Terrett additionally says the present SEC administration has no plans to green-light any of the opposite functions.
The monetary corporations VanEck, 21Shares, Canary Capital and Bitwise have all filed to supply SOL ETFs, and crypto asset supervisor Grayscale additionally recently applied to transform its Solana Belief right into a spot exchange-traded fund.
Eric Balchunas, a senior ETF analyst at Bloomberg, predicts the corporations will reapply with the brand new SEC regime subsequent 12 months.
“This was [Gensler’s] parting present I assume.”
After Donald Trump’s election victory final month, Gensler announced he would step down in January, on the president-elect’s inauguration day. The SEC chair’s time period was set to run till 2026.
Underneath Gensler’s management, the securities watchdog launched high-profile enforcement actions in opposition to many crypto corporations, together with trade giants Binance, Kraken, Coinbase, Ripple Labs, Uniswap Labs and Consensys.
Trump picked former SEC Commissioner and present Patomak Companions chief government Paul Atkins to go the regulatory company.
In 2022, whereas at Patomak, Atkins penned a letter noting that as Individuals have gotten extra conversant in crypto property, they might change into interested by buying them for his or her retirement plans.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Examine Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney