#What impact will the Solana ETF application have?

The excitement of the spot ETF application, which started with the leading crypto Bitcoin, continues with the largest altcoin Ethereum. After the Ethereum ETF applications awaiting approval from the US Securities and Exchange Commission (SEC), attention is turning to other altcoins such as Solana. So, will the Solana ETF application be approved?

According to a post dated June 27, investment management company VanEck has applied to the SEC with the aim of becoming the first firm to offer a Solana ETF in the United States. However, there are some technical obstacles to the acceptance of the Solana ETF application.

The SEC, which is the regulatory authority in the US, wants to monitor the futures of a financial asset on the Chicago Mercantile Exchange for a full 32 months before approving its exchange-traded fund (ETF) based on its spot price.

For Bitcoin and Ethereum, this process is not a problem as it is known that both digital assets have futures trading on this exchange and can therefore receive approval. However, none of the cryptocurrencies other than BTC and ETH have a futures trading record. In other words, it seems that VanEck's Solana ETF application may need to wait for a significant period of time, such as 32 months, before it is approved.

While the cryptocurrency agenda is buzzing with ETF applications, there is movement in some crypto coins following the news of SOL ETF application. Professional investors who want to be prepared for a potential SOL rally are showing interest in pre-sale events that offer the chance to invest at low prices.

Following the SOL ETF application, Pepe Unchained, which broke the chains of PEPE, WienerAI, an artificial intelligence-supported investment partner project, and Base Dawgz, a multi-chain dog coin, are among the pre-sale coins experiencing fund increases.
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