21Shares has become the latest investment firm to file an application for a Solana-based exchange-traded fund (ETF), following a similar filing by VanEck just a day earlier.
According to ETF analyst James Seyffart, such a product might not see approval until 2025. Meanwhile, the U.S. Securities and Exchange Commission is expected to approve multiple Ethereum ETFs by July 4, as reported by Reuters.
Bloomberg’s senior ETF analyst, Eric Balchunas, has refrained from predicting approval odds, citing it as too early.
Despite 21Shares’ filing, the price of Solana (SOL) has dropped by 4.5% in the past 24 hours. In contrast, it surged by over 6% following the VanEck news.
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