The recent buzz says that the SEC has finally acknowledged Grayscale’s Solana 19B-4 application, which was previously rejected by the Gary Gensler-led SEC. This shows a great shift in the federal agency’s stance under the newly-elected U.S. President Donald Trump.
Grayscale Investments has filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to convert its existing Solana Trust into a spot Solana Exchange-Traded Funds (ETFs). If approved, this ETF would trade on the New York Stock Exchange under the ticker symbol GSOL. According to the official data, the trust currently holds around $102.8 million in assets under management.
UPDATE: SEC just acknowledged the @Grayscale Solana 19b-4. This is actually newsworthy because the SEC had refused to do this in recent filing attempts for SOL pic.twitter.com/m2D88GKG5i
— James Seyffart (@JSeyff) February 6, 2025
Is Solana Spot ETF Possible Under Trump’s Administration
Previously, there was a buzz that the SEC denied the approval of any ETF from ‘new’ cryptocurrencies. Fox Business Journalist Eleanor Terrett wrote in her post, “I’ve confirmed that the SEC has notified at least two of the five prospective issuers that it will reject their 19b-4 filings for the Solana spot ETFs. The consensus here, I’m told, is that the SEC won’t entertain any new crypto ETFs under the current administration.”
Under Trump’s new administration, the crypto world is expecting a friendly regulatory environment that will help the space to attract wider participation from both retail and institutional investors.
The news could spark a rally in the fifth biggest cryptocurrencies as just hours ago, VanEck, the prominent asset manager shared a highly bullish outlook for SOL. according to predictions, the cryptocurrency could reach $520 by the end of 2025 thanks to growing on-chain activities and DEX volume.
Also Read: VanEck Speculates: Solana (SOL) Will Reach $520 in Late 2025
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