Brazil Approves Second Solana ETF as US Faces Regulatory Hurdles

While Brazil swiftly advances Solana ETF approvals, the US remains mired in uncertainty due to SEC's stance on crypto regulations.

Brazil's securities regulator has approved a second Solana ETF this month, managed by Hashdex.
In contrast, the US SEC has rejected similar filings by VanEck and 21Shares, citing regulatory concerns.
Analysts believe US Solana ETF approvals are unlikely without a change in SEC leadership.
The SEC's hesitance is partly due to Solana's classification as a security rather than a commodity.
The US market awaits potential dual BTC and ETH ETFs, with no clear timeline for approval.