VanEck’s Head of Digital Assets intends to approve the Solana ETF by 2025
Many crypto devotees are contemplating whether Solana could be the next significant cryptocurrency to receive its own exchange-traded fund (ETF) following the success of Bitcoin and Ethereum.
According to Matthew Sigel, the director of digital asset research at VanEck, the likelihood of a Solana ETF being authorized is “overwhelmingly high” due to the evolving political climate in favor of cryptocurrencies.
Mаtthеw Sigеl has expressed his strong belief in the likely approval of a Solana ETF in an interview with the Financial Times. He claimed that the likelihood of this occurring by 2025 is “overwhelmingly high.”
This forecast represents a substantial departure from the preceding years, during which the Biden administration’s stringent regulatory approach impeded the development of cryptocurrency products. Sigel is of the opinion that the recent political shift will likely pave the way for the approval of a Solana ETF by the end of 2025.
Nevertheless, not all individuals agree. According to Robert Mitchnik, the director of digital assets at BlackRock, the company is not interested in any cryptocurrency other than Bitcoin and Ethereum, and it is taking a more cautious approach to other cryptocurrencies such as Solana.
The notion of a Solana ETF has garnered additional attention amid the speculation that Donald Trump’s re-election could lead to a less restrictive regulatory environment for cryptocurrency. This could result in the sanctioning of a Solana ETF occurring sooner than anticipated.
According to experts such as Matt Hougan from Bitwise Asset Management, the crypto landscape could undergo a significant transformation as a result of Trump’s election. These modifications could facilitate the growth of digital assets such as Litecoin, XRP, and Solana.
Nevertheless, there are increasing speculations that SEC Chairman Gary Gensler may resign in the near future, potentially prior to Trump’s inauguration and following Thanksgiving.
The strict regulations of Gensler have been the subject of criticism by numerous individuals in the crypto community, who contend that they have impeded the expansion of crypto products such as ETFs. The potential outcome of his resignation is the establishment of a more conducive environment for crypto innovation and the introduction of new leadership.
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