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Solana Hits $252 as SEC Engages on Spot ETF Approval; VanEck, 21Shares Eye 2025 Launch

Nov 21, 2024, 03:08 PM

Solana's cryptocurrency token, SOL, surged past $252, nearing its all-time high, amid reports that the U.S. Securities and Exchange Commission (SEC) is engaging with multiple institutions on potential approval of Solana spot exchange-traded funds (ETFs). Talks are "progressing," with the SEC now processing S-1 applications and exchanges expected to file Form 19b-4s soon, starting the formal approval process. Major financial firms including VanEck, 21Shares, Canary, and Bitwise are reportedly in the race to launch a Solana ETF, with optimism for approval in 2025.