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The new wave of prosperity in the crypto market could be a significant benefit for Solana: now, the chances of creating a spot SOL ETF may be even higher. Matt Sigel, head of digital asset research at VanEck, believes that a spot ETF based on Solana (SOL) could be on the market by the end of 2025. In an interview with Financial Times, Sigel noted that under the leadership of current U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, the agency has moved away from the traditional approach of interacting with businesses. Sigel also pointed to the need to return to a system focused on disclosure, which will create new opportunities for the crypto industry to grow. VanEck filed for a Solana ETF in June 2024, calling this decision “a bet on Donald Trump to win.” Sigel believes that the new administration will support the crypto industry and promote the development of investments in digital assets. In addition, he indicated that the crypto industry expects other spot ETFs to appear, and the VanEck team is already analyzing the chances of launching different asset classes. However, the SEC representatives recalled that the previous chairman, Jay Clayton, appointed by Trump, initiated about 80 lawsuits against crypto companies and rejected all applications for spot Bitcoin ETFs. “It was Gary Gensler’s SEC that broke with long-standing tradition with the rules-guided process and regulated through enforcement. Going back to the usual disclosure-based system would create scope for more innovation in this space.” Matt Sigel, head of digital asset research at VanEck The launch of a spot ETF on Solana may happen even earlier Syncracy Capital hedge fund co-founder Daniel Cheung predicted that the crypto industry might see spot ETFs on Solana even earlier than Siegel expects. Thus, Cheung believes that the first spot of…

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Filed under: News - @ November 18, 2024 11:22 pm