CBOE Exec Casts Doubt on Near-Term Solana Spot ETF Approval

IconCryptoNewsTerminal Staff11 Jun, 2024

cryptonews.jpg

CBOE Exec Casts Doubt on Near-Term Solana Spot ETF Approval

Solana Spot ETF Faces Hurdles, Says CBOE Executive The Chicago Board Options Exchange (CBOE) has expressed skepticism over the prospect of a spot Solana (SOL) exchange-traded fund (ETF) being approved anytime soon. According to Rob Marrocco, CBOE's head of listings, the Securities and Exchange Commission (SEC) lacks sufficient data to deem the Solana market mature and transparent enough to support a spot ETF. "The SEC doesn't have enough data to get comfortable that the market is large enough, or transparent enough to support a spot ETF for Solana," he said. VettaFi's head of ETF research, Lara Crigger, echoed Marrocco's sentiment, stating that a futures ETF or additional regulatory clarity might be necessary before a spot Solana ETF could be approved. This outlook aligns with recent statements from JPMorgan and Bloomberg, which suggested that spot ETF approvals for cryptocurrencies beyond Bitcoin and Ethereum are unlikely. However, Bernstein has argued that the approval of an ETH spot ETF could pave the way for other cryptocurrencies, including Solana, to be considered for similar products.

Related News