Bloomberg industry research analyst James Seyffart said in an interview that even if the White House is friendly towards cryptocurrencies, the Solana ETF may not be launched in the United States until 2026. He said issuers were "likely to see an improvement" in the Solana ETF filing lag after President-elect Donald Trump took office on January 20. However, since the SEC used to take 240-260 days to review documents, that timeline could be extended to 2026. In addition, the Securities Exchange Commission is filing a lawsuit against cryptocurrency exchanges, alleging that SOLs constitute unregistered securities, which complicates the review process. "SEC enforcement refers to Solana as a security, which makes it difficult for the rest of the SEC to review it as a commodity ETF," Seyffart said.