在討論 Solana ETF 的安全分類後，SEC 暫停了其審批流程

正如 Colin Wu 所指出的，美國證券交易委員會 (SEC) 已暫停基於 Solana 的交易所交易基金 (ETF) 的審批程序。

The U.S. Securities and Exchange Commission (SEC) has paused the approval process for exchange-traded funds (ETFs) linked to Solana (SOL) following discussions with potential issuers on whether the digital asset should be classified as a security, a designation that has faced regulatory hurdles in the past.

在與潛在發行人討論該數位資產是否應被歸類為證券後，美國證券交易委員會(SEC) 暫停了與Solana (SOL) 相關的交易所交易基金(ETF) 的審批流程，這一指定已面臨挑戰。

As a result, filings to initiate the approval process were withdrawn by Cboe BZX, stalling any immediate prospects for Solana ETFs.

因此，Cboe BZX 撤回了啟動審批程序的申請，從而使 Solana ETF 的近期前景陷入停滯。

According to The Block, the U.S. SEC discussed concerns with ETF issuers that Solana might be classified as a security. The SEC subsequently agreed with Cboe not to submit the relevant 19b-4 form to avoid initiating the approval process. VanEck's S-1 registration…

根據 The Block 報道，美國 SEC 與 ETF 發行人討論了 Solana 可能被歸類為證券的擔憂。 SEC 隨後同意 Cboe 不提交相關 19b-4 表格，以避免啟動審批程序。 VanEck 的 S-1 註冊...

— Wu Blockchain (@WuBlockchain) August 20, 2024

— Wu Blockchain (@WuBlockchain) 2024 年 8 月 20 日

The decision comes after ETFs for Ethereum and Bitcoin were approved, highlighting the challenges faced by Solana in obtaining approval under the current administration. Market observers had anticipated this delay, considering the SEC’s stance that Solana may be a security.

這項決定是在以太坊和比特幣 ETF 獲得批准後做出的，突顯了 Solana 在當前政府下獲得批准所面臨的挑戰。考慮到 SEC 認為 Solana 可能是證券的立場，市場觀察家已經預料到了這種延遲。

For instance, Nate Geraci, president of The ETF Store, and James Seyffart, a prominent ETF expert, previously suggested that approval for Solana ETFs is unlikely during the Biden administration.

例如，The ETF Store 總裁 Nate Geraci 和著名 ETF 專家 James Seyffart 先前表示，在拜登政府期間不太可能批准 Solana ETF。

Geraci indicated that the administration’s stance could impact any new developments, with Seyffart noting the first possible chance for a Solana ETF might not arise until 2025 or later.

Geraci 表示，政府的立場可能會影響任何新的進展，Seyffart 指出 Solana ETF 的首次可能機會可能要到 2025 年或更晚才會出現。

Filings Removal Halts Approval ProcessThe removal of the 19b-4 filings for Solana ETFs has effectively frozen the approval process. According to sources familiar with the matter, these filings are crucial for obtaining regulatory clearance and initiating the countdown for the SEC’s formal review.

申請刪除暫停了審批流程 Solana ETF 19b-4 申請的刪除實際上凍結了審批流程。知情人士透露，這些文件對於獲得監管許可和啟動 SEC 正式審查的倒數計時至關重要。

By withdrawing the forms, Cboe BZX and the SEC have avoided starting any clock toward a decision. Market participants noticed the absence of these filings over the weekend, as related documents no longer appear on either the Cboe website or the Federal Register.

透過撤回表格，Cboe BZX 和 SEC 避免了啟動任何決定的時間。市場參與者註意到週末沒有這些文件，因為相關文件不再出現在芝加哥期權交易所網站或聯邦公報上。

Meanwhile, VanEck’s S-1 registration statement for its Solana ETF is still available on the SEC’s EDGAR system, though other filings from issuers, like 21Shares, are less accessible. Despite the paused filings, some issuers are expected to regroup and make another attempt at securing approval.

同時，VanEck 的 Solana ETF 的 S-1 註冊聲明仍然可以在 SEC 的 EDGAR 系統上找到，儘管 21Shares 等發行人的其他文件不太容易存取。儘管申請暫停，但預計一些發行人將重組並再次嘗試獲得批准。

To achieve this, they must navigate complex listing requirements, including the establishment of a Commodity Futures Trading Commission (CFTC)-regulated market for Solana, which currently poses a hurdle.

為了實現這一目標，他們必須滿足複雜的上市要求，包括為 Solana 建立商品期貨交易委員會 (CFTC) 監管的市場，而這目前構成了障礙。

VanEck Proposes Solana ETF Notably, VanEck, known for its Bitcoin and Ethereum ETFs, officially submitted an application for a Solana ETF in July. The firm highlighted Solana's blockchain advantages in scalability, low transaction costs, and speed.

VanEck 提出 Solana ETF 值得注意的是，以比特幣和以太坊 ETF 聞名的 VanEck 在 7 月正式提交了 Solana ETF 的申請。該公司強調了 Solana 的區塊鏈在可擴展性、低交易成本和速度方面的優勢。

By comparing it to Ethereum, VanEck positions Solana as a strong candidate for a commodity-based classification, arguing that SOL shares characteristics with Bitcoin and Ethereum, which are not considered securities.

透過將 Solana 與以太坊進行比較，VanEck 將 Solana 定位為基於商品的分類的有力候選者，並認為 SOL 與比特幣和以太坊具有相同的特徵，而比特幣和以太坊不被視為證券。

However, experts like Seyffart suggest that while demand for a Solana ETF is expected to grow, it will take several years and might depend on a new regulatory landscape.

然而，Seyffart 等專家表示，雖然對 Solana ETF 的需求預計會成長，但這需要幾年時間，並且可能取決於新的監管環境。