After ETH, next spot ETF is SOL?

Mt. Gox and FTX repayments may affect market trends. SOL ETF filings face regulatory challenges. SEC targets Consensys over staking services

After ETH, next spot ETF is SOL?

Repayments from broken exchanges to debtors

Mt. Gox said it will start distributing assets. The repayments will be made in kind by BTC and BCH, starting from the beginning of July 2024.

-> This repayment is expected to bring selling pressure.

FTX, subject to the approval of the Chapter 11 plan, Dotcom customers are anticipated to receive between 119-143 c/$.

-> This repayment is expected to bring buying power.

After ETH, next spot EFT is SOL?

21Shares and VanEck both filed to launch a SOL exchange-traded fund in the U.S.

Both believes Solana’s native token should be treated as a commodity, while previousely The SEC’s Enforcement Division has already said SOL is a security — which may be a serious roadblock to launching these funds.

Those original file links are:

SEC sues Consensys again, and going after PoS staking operators's%20complaint,in%20exchange%20for%20staked%20assets.

SEC charges Consensys software for unregistered offers and sales of securities through its MetaMask staking service.

According to the SEC’s complaint, since at least January 2023, Consensys has offered and sold tens of thousands of unregistered securities on behalf of liquid staking program providers Lido and Rocket Pool, who create and issue liquid staking tokens (called stETH and rETH) in exchange for staked assets.

So the direction is that ETH itself is not security, but staking service is security.

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