Originally published on: November 15, 2024
VanEck’s head of digital asset research, Matthew Sigel, has high hopes for a Solana (SOL) exchange-traded fund (ETF) making its debut in the United States before the end of 2025. Sigel believes that the odds are overwhelmingly in favor of this happening, especially following the recent presidential election win of crypto-friendly Donald Trump.
After Trump’s victory, Sigel anticipates that the US Securities and Exchange Commission (SEC) will be more inclined to approve cryptocurrency products. This could mean good news for over half a dozen proposed crypto ETFs awaiting regulatory approval in the US.
Asset managers have been quick to submit regulatory filings for ETFs holding various altcoins, such as SOL, XRP, and Litecoin, in recent years. Additionally, issuers are eagerly awaiting approval for crypto index ETFs designed to hold diverse baskets of tokens.
With the current regulatory landscape shifting, industry analysts like Eric Balchunas see these ETF filings as strategic moves anticipating a more lenient approach from a Trump-led SEC. Under President Joe Biden, the SEC has taken a stricter stance on crypto regulations, making Trump’s victory even more significant.
As the SEC reviews requests for groundbreaking ETFs and options tied to cryptocurrencies, the future of crypto investments in the US appears promising. Industry experts like Matt Hougan of Bitwise Asset Management see the election results as a game-changer for the crypto sector, paving the way for exciting opportunities ahead.
With a potential shift in regulatory oversight, the coming years could see significant advancements in crypto investments, making the launch of a Solana ETF a promising prospect for 2025 and beyond. Stay informed with Law Decoded’s newsletter for the latest updates on crypto laws and guidelines to make informed decisions for your investments.
