Solana ETFs may not launch until 2026

Solana (CRYPTO:SOL) exchange-traded funds (ETFs) in the United States are unlikely to debut until 2026, according to James Seyffart, an analyst at Bloomberg Intelligence.

This delay is attributed to pending lawsuits regarding Solana's classification as a security.

Seyffart noted that while there could be movement on Solana ETF filings after Donald Trump takes office on January 20, the timeline for approval may extend into 2026.

He explained that the U.S. Securities and Exchange Commission (SEC) typically takes between 240 to 260 days to review ETF filings, which complicates the process.

The SEC's ongoing legal actions against cryptocurrency exchanges, asserting that Solana constitutes an unregistered security, further hinder the review of these applications.

“The SEC’s Division of Enforcement is calling Solana a security, which prevents other SEC divisions from analyzing it for a commodities ETF wrapper,” Seyffart stated.

Despite a crypto-friendly administration potentially improving conditions for ETF approvals, several proposed Solana ETFs remain unacknowledged by the SEC.

In 2024, the agency did approve spot Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) ETFs but has been more cautious with altcoin ETFs.

Seyffart remarked that many Solana ETF filings were effectively denied outright and are now languishing without acknowledgment.

In 2024, asset managers submitted numerous applications for ETFs holding various altcoins, including Solana, XRP (CRYPTO:XRP), and Litecoin (CRYPTO:LTC).

These filings have been described as “call options on a Trump victory” in the upcoming presidential race by Eric Balchunas, another ETF analyst at Bloomberg Intelligence.

However, not all analysts agree with Seyffart's assessment.

Matthew Sigel, head of digital asset research at VanEck, expressed optimism regarding the approval of a Solana ETF before the end of 2025, stating that the odds are “overwhelmingly high.”

As the regulatory landscape continues to evolve, industry stakeholders remain watchful for any shifts that could impact the future of Solana ETFs in the U.S.

At the time of reporting, the Solana (SOL) price was $212.19.