JPMorgan doubts on SEC approval for Solana and other crypto ETFs

[TomPluz]

Read more of this here.

JPMorgan is skeptical about the United States Securities and Exchange Commission approving Solana and other crypto exchange-traded funds now that Ethereum ETFs have been approved.

"We doubt. The decision by the SEC to approve ETH ETFs is already stretched given the ambiguity about whether Ethereum should be classified as security or not. We don't think the SEC would go even further by approving Solana or other token ETFs given the SEC has stronger (relative to Ethereum) opinion that tokens outside bitcoin and Ethereum should be classified as securities," Panigirtzoglou said.

Last week, the SEC abruptly approved spot Ethereum ETFs, with several analysts saying it was a politically motivated decision as the SEC only re-engaged with stakeholders at the last minute, following months of stalled conversations.

With the recent approval of spot Bitcoin ETFs in January and this month's seemingly unexpected same event for Ethereum, some people are expecting that Solana can be the next one in line. However, just like JPMorgan we are already asking too much and the situation may not yet be favorable for another ETF aside from the two already approved. Considered as a competitor of Ethereum and has had gained big momentums in the past many months, do you think there is still that probability for Solana ETFs...like maybe in 2025?

[hugeblack]

I think Solana fans will try to publish a lot of news in this type, after agreeing to ETH ETF, I think that the new wave of the FUD will be like this news exactly as happened in 2017 with bitcoin hardforks or after what happened with Uniswap Airdrop or Shiba Doge FUD.
Therefore, although the approval of the ethereum was surprising, but I do not expect to go away, even if the approval of an altcoin it may be LTC.

[yhiaali3]

I read several days ago on one of the Telegram channels that discussions were beginning to appear among some analysts on the CNBC channel regarding the possibility of issuing ETFs for the SOL currency.

I expect that if the discussion is repeated in such influential economic channels and expanded in the media, it will result in a strong rise in the SOL currency, even though this is not acceptable to the Securities and Exchange Commission.

For me, it is unlikely that Solana will obtain the required approval, especially after the failure that the network is suffering from, which has been repeated more than once. Personally, I do not expect coins other than Bitcoin and Ethereum to obtain approval.

[Stompix]

If Solana gets approval for this it will be probably the last that counts but in the one decimal percentage, the first approval of Bitcoin ETFs in the US had a real impact, the world didn't even care about the rest, despite the US not being the first, despite talks about HK and Brazil nothing really moved the markets. Now there was hype about ETH and turns out that there is not as much as some anticipated, basically, we're back one step to square one and already things get diluted.

Yeah, you will have Sol ETF, then everybody will say we're going to have ADA, DOGE, LTC, whatever..it would stop mattering as the whole novelty goes down and once the big guys start looking at the revenue numbers they will see so much correlation between them they will just stick with the first ones and throw pennies at the rest.

If somebody thinks news about ETFs will keep pumping the prices forever prepare to be disappointed.

 

[Captain Corporate]

I mean thats not really that far fetched idea. When you think about it, bitcoin is decentralized and for sure, not like doubted, and when you think of ETH, the idea of it is decentralized, but the foundation could make changes a little bit, not much but a bit, yet its still at least considered decentralized because it requires public approval. But when we are talking about SOL? Or most of the other ones? There is a dev team behind it that keeps on making changes, and because of that we are not going to get ETF of these things, you can't see any ETF of a project that still has the creators lurking about making changes.

[Kemarit]

A ETH ETF approval could open the floodgates for others to apply as well, in this case Solana trying it's luck against SEC. But it's really hard to speculate as how the SEC will look at Solana's application because they still hasn't decided yet on ETH. So it's very critical here and could set a precedence once ETH is eventually approved. And then Solana expecting the same and could argue that they have similar structure to ETH and SEC approved it's ETF so why not Solana? The timing of this approval/disapproval is going to be critical to our market or at least if we talk about altcoins in general. It could case massive pump to ETH and or Solana that will trickle down to the market this year or the next.

[joniboini]

Even if it gets approved, what effects will it bring to Solana or other altcoins in general? Wouldn't this mean more opportunity for big players to control the market indirectly? I don't think focusing on ETF will really help crypto grow. When the bear market hits the news will turn negative quickly which might affect the general public perception of crypto even further. Personally, I also doubt the SEC will continue to approve any new approval that quickly, granted we don't know exactly what they think about crypto in general.

[armanda90]

Even if it gets approved, what effects will it bring to Solana or other altcoins in general? Wouldn't this mean more opportunity for big players to control the market indirectly? I don't think focusing on ETF will really help crypto grow. When the bear market hits the news will turn negative quickly which might affect the general public perception of crypto even further. Personally, I also doubt the SEC will continue to approve any new approval that quickly, granted we don't know exactly what they think about crypto in general.

Generally if get approval will make Solana easily reach to higher price but its not easy proposal to make Solana as the next cryptocurrency get ETFs approval after Bitcoin and Ethereum. Bitcoin and Ethereum show us significant effect after getting approval and raise to the higher price exactly for bitcoin success raising the new ATH one month after ETFs approval. I think its need important part for some coins getting ETF approval although its not easy how long for Bitcoin and Ethereum waiting the proposal approval.
But I don't sure how potential for Solana getting approval behind their price most dropping drastically since reach the new all time high price, its bad reputation for Solana history.

[Mr. Magkaisa]

             -   This is just my opinion, and my opinion regarding what we are talking about about the SOL spot ETF is that, in my assessment, it cannot be prioritized to be approved because it is still too early. It does not mean that SOL has shown a good performance recently; that will immediately be a reason to say that it can now compete in the ETF spot.

I just don't understand why things like this need to be rushed about SOL in terms of ETF approval. Because I myself seem to be lacking in the performance of SOL, although I also have a few amounts held by this SOL in my wallet. This is just my perception.

[TomPluz]

I just don't understand why things like this need to be rushed about SOL in terms of ETF approval. Because I myself seem to be lacking in the performance of SOL, although I also have a few amounts held by this SOL in my wallet. This is just my perception.

I think the idea of a spot Solana ETF is a good one but there is one element that must be considered and that is timing. For me, this is not yet the time for Solana after the approval for Bitcoin and Ethereum. This means that the market has to wait for the right time when SEC will deliberate and approve on prospective applications. With the two already approved, let's give the market the time to assimilate them so as not make them ineffective though we are still looking forward for the possibility for Solana to also get its limelight. So to all Solana supporters and enthusiasts: just keep on pushing and you will have it at the right time.

[Faisal2202]

Considered as a competitor of Ethereum and has had gained big momentums in the past many months, do you think there is still that probability for Solana ETFs...like maybe in 2025?

I don't think the next ETFs is of Solana on the line I think it would be LTC or BCH, or maybe XRP but Solana might not be. Maybe if they apply only for Solana and don't go after XRP or other forks of BTC then yeah it is possible that they would be able to approve the ETF of SOL as well. If it happens then it will open a gateway for a number of currencies in the market to hope that one day they will also have ETF and a lot of investment.

If Sol ETF gets approved then all the meme coins based on Sol will also pump and IMO most of the meme coins are made on Sol network which is not being used to scam people. As on Twitter I have seen many Sol based Meme coins to scam but Ton is also being used a lot to scam people, like after the big rewards from Not many people are coming with projects based on Ton and most are fake.