Mid-March Solana ETF Outcome Hangs on Trump vs. Biden: Bloomberg
Bloomberg ETF analyst Eric Balchunas suggested in a July 9th X post that the outcome of the upcoming presidential election between Donald Trump and Joe Biden could be a deciding factor in the approval of a Solana spot exchange-traded fund (ETF).
Balchunas called the election the “most important” factor for Solana ETF approval. The election will occur in November, preceding the Solana ETF decision deadline of mid-March 2025.
Looks like Solana ETFs are going to have a final deadline of mid-March 2025. But between now and then the most imp date is in November. If Biden wins, these likely DOA. If Trump wins, anything poss. https://t.co/ywkf6oA8Rc
— Eric Balchunas (@EricBalchunas) July 8, 2024
A Biden victory, Balchunas argued, would likely spell doom for the Solana ETFs.
However, he suggested that a Trump presidency might offer a more favorable regulatory environment, potentially increasing the chances of approval.
A June 27 report by crypto market maker GSR Markets predicts that the approval and launch of US spot Solana ETFs could potentially 9x the SOL price.
Solana ETFs are set to receive a decision from the United States Securities and Exchange Commission (SEC) around mid-March 2025.
This comes after the Chicago Board Options Exchange (CBOE) filed two Form 19b-4 applications on July 8 to list VanEck and 21Shares’ proposed ETFs.
In the filing, the CBOE compared the prospective Solana funds to past approved Bitcoin and Ether ETFs.
It highlighted Solana’s decentralization, throughput, and speed as strengths, making it resistant to manipulation that could harm investors. Both filings stated:
“Much like Bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that ‘other means to prevent fraudulent
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