Originally published on: November 15, 2024
According to Matthew Sigel, the head of digital asset research at VanEck, the chances of a Solana exchange-traded fund (ETF) being listed in the US by the end of 2025 are incredibly high. Sigel believes that the recent presidential election win by crypto-friendly Donald Trump will pave the way for more cryptocurrency products to be approved by the US Securities and Exchange Commission.
With over half a dozen proposed crypto ETFs awaiting regulatory approval, the stage is set for a significant shift in the cryptocurrency market. In 2024, a surge of regulatory filings were submitted to list ETFs holding altcoins such as SOL, XRP, and Litecoin, among others. Additionally, various planned crypto index ETFs are also awaiting approval, promising diverse portfolios of digital tokens.
Industry experts view Trump’s victory in the US presidential race as a catalyst for positive change in the crypto market. Eric Balchunas, an ETF analyst at Bloomberg Intelligence, sees these developments as “call options on a Trump victory.” Under the current administration, the SEC has taken a strict regulatory stance on crypto, unveiling numerous regulatory actions against industry players.
As Trump considers potential replacements for key regulatory positions, including the chair of the SEC, the future of cryptocurrency regulation remains uncertain. However, with the SEC reviewing proposals for groundbreaking ETFs and options tied to cryptocurrencies, the industry is poised for significant growth.
In light of these developments, industry experts like Matt Hougan of Bitwise Asset Management believe that the recent election has been a substantial win for the crypto community. As the regulatory landscape evolves, the potential for increased mainstream adoption of cryptocurrencies is becoming a reality.
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