Is the SEC Clearing a Path for a Solana (SOL) Spot ETP?

Key Points

1. The SEC's Corporation Finance Division now requires ETP applicants to provide specific details on NAV calculation, benchmark selection, and custody practices.

2. The new guidance aims to establish a structured and predictable oversight process for crypto ETPs, addressing previous regulatory gaps.

3. Some industry observers view the SEC's move as progress toward crypto asset ETPs, while others criticize it as potential overreach that could stifle innovation.

4. The guidance has sparked discussions about whether it could lead to the approval of a Solana (SOL) spot ETP, following similar developments in the crypto ETP space.

5. Critics argue that the SEC's approach may impose compliance hurdles under the guise of investor protection, advocating for more market-driven frameworks instead.