Bloombergs

Solana ETF approval odds are now at 100% according to Bloomberg ETF analyst Eric Balchunas.

Summary

Bloomberg ETF analyst Eric Balchunas says the odds of a Solana ETF approval are at 100%.
Issuers have submitted amended filings for Solana spot ETFs.
The SEC has withdrawn all delay notices for multiple crypto ETFs.

“Honestly, the odds are really 100% now,” Balchunas wrote in a Sep. 30 X post, as he credited the improved odds to recent regulatory developments that have effectively fast‑tracked the usually drawn‑out approval process and stripped away most of the usual hurdles.

According to Balchunas, the SEC’s decision to adopt generic listing standards for crypto-linked commodity trusts has rendered the 19b-4 filings and their statutory review timelines largely irrelevant.

For those unaware, the SEC signed off on new generic listing standards for commodity-based trusts earlier this month, effectively removing the step-by-step calendar that once governed how long the agency could take to approve or deny a proposed ETF.

Typically, when an ETF issuer filed a 19b-4 form, it triggered a review clock that gave the SEC up to 240 days to make a decision. But with the new standards in place, that process no longer applies in the same way. Instead, final approval now rests on the S-1 registration statements, which require sign-off from the SEC’s Division of Corporation Finance.

As of Sep. 30, a number of ETF issuers had already submitted amended filings with the commission to align with the new standards, which just leaves the S-1 approvals from the Division of Corporation Finance as the final step before launch.

“The baby could come any day. Be ready,” Balchunas added.

The cryptocurrency community has long awaited the approval of altcoin-based ETFs ever since the commission approved Ethereum spot ETFs last year. At least nine issuers have filed to launch Solana ETFs, with others pushing for products tied to XRP (XRP), Litecoin (LTC), and Cardano (ADA).

Initially, the SEC had been delaying decisions on these proposals under the traditional 19b-4 review process. However, on Sep. 29, the commission withdrew all remaining delay notices tied to these applications, which provided further confirmation that the regulators were preparing to issue final decisions without further holdups.

With October now being dubbed “ETF Month” by market watchers, expectations are high that a wave of altcoin ETF approvals could arrive within weeks.

According to analysts at crypto.news, if a Solana ETF is approved, it could provide the necessary catalyst that drives SOL towards $260. When writing, SOL was trading at $210.61, up 1.1% on the day.

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MicroStrategy (now Strategy) co-founder Michael Saylor has made his first entry on the Bloomberg Billionaires Index, joining the list with an estimated net worth of $7.37 billion and taking the 491st spot.

Reports have disclosed that his wealth rose by about $1 billion since the start of 2025, a gain of nearly 16% year-to-date.

Strategy Holdings Drive Wealth

According to Bloomberg’s breakdown, roughly $6.70 billion of Saylor’s reported net worth is tied to his equity in Strategy, while about $650 million is held in cash. That split leaves the bulk of his public wealth exposed to the market value of the company’s stock and, by extension, the company’s Bitcoin reserves.

Source: Bloomberg

Different Counts For Bitcoin Hoard

Different outlets list different totals for Strategy’s BTC stash. Some reports cite about 580,000 BTC held as of May 2025, while others report figures above 630,000 BTC or near 660,000 BTC depending on timing and source.

The range reflects ongoing purchases and the lag in public filings, which mean the company’s Bitcoin tally can look different from story to story.

Saylor’s Fortune Moves With Markets

Bloomberg’s live index shows short-term swings in Saylor’s number: his net worth rose by about $167 million in a single recent update, underscoring how quickly the headline figure can change when Strategy shares or Bitcoin move.

Based on reports, the sharp moves this year were driven by a rise in Strategy’s share price and Bitcoin’s run toward higher levels.

BTCUSD now trading at $111,966. Chart: TradingView

From Dot-Com Highs To A Bitcoin Bet

Saylor’s path to the list traces back to earlier highs and setbacks in the dot-com era and a major strategy shift beginning in 2020, when Strategy began buying Bitcoin as a treasury asset.

The change in company focus is what analysts and commentators point to now when they link most of his public net worth to the firm’s holdings rather than to cash or other assets.

Index Entry Joins Crypto Titans

Based on reports, Saylor’s arrival on the Bloomberg list places him among other tech and crypto-linked billionaires who have seen fortunes tied to digital assets or crypto firms.

His entry follows a year in which several public companies and their leaders have gained or lost ground in step with Bitcoin’s swings.

For now, Saylor’s rank on the list is a snapshot — a number that can rise or fall quickly. Investors and observers will watch Strategy’s filings and Bitcoin’s price for the clearest clues about where his net worth might head next.

Featured image from Sky History, chart from TradingView

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