Analysts say that Solana ETFs are expected to have a final decision deadline around mid-March 2025.

This follows the Chicago Board Options Exchange (CBOE) filing applications on Monday to list VanEck and 21Shares proposed ETFs.

Mid-March Decision Deadline

Bloomberg ETF analyst Eric Balchunas noted that Solana ETFs are expected to have a final deadline of mid-March 2025. However, he emphasized that November is the most significant date in the interim.

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

The CBOE submitted two Form 19b-4 applications on July 8, one for the 21Shares Core Solana ETF and another for the VanEck Solana Trust. These prospective funds are likened to the previously approved spot Bitcoin and spot Ether ETFs, which received the SEC’s approval in January and May, respectively.

Much like Bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that ‘other means to prevent fraudulent and manipulative acts and practices’ exist to justify dispensing with the requisite surveillance sharing agreement,” read both filings.

President of the ETF store Nate Geraci noted that once the SEC acknowledges the filings, the “decision clock will start ticking.”

Under SEC rules, the agency has 240 calendar days to decide whether to approve or deny the CBOEs 19b-4 application to list the products from VanEck and digital asset manager 21Shares. These are the first proposed ETF products tied to the price of Solana, the fifth-largest cryptocurrency.

Political Climate Could Be Key to Solana ETF Approval

Senior Bloomberg ETF analyst Eric Balchunas provided further insight, stating that the outcome of the November presidential election could play an important role.

If Biden wins, these likely DOA. If Trump wins, anything possible, Balchunas remarked.

Recent research by GSR Markets predicts that Solanas price could increase nine times with potential ETF approvals, similar to the historical price surge seen with Bitcoin.

According to the research, backing the crypto industry by figures like former President Donald Trump has softened opposition from Democrats, leading to bipartisan support for regulatory frameworks that could enable new crypto opportunities, setting the stage for Solana ETF approvals.

We are now addressing the increasing investor interest in Solana – one of the most actively traded cryptocurrencies after Bitcoin and Ether, said Rob Marrocco, global head of ETP Listings at CBOE.

VanEck and 21Shares initially applied with the SEC in June to launch the new products. The SEC must also approve their S-1 filings before the products can begin trading.