Originally published on: November 15, 2024
VanEck’s head of digital asset research, Matthew Sigel, recently shared his optimism about the chances of a Solana (SOL) exchange-traded fund (ETF) listing in the United States before the end of 2025. Sigel believes the odds are “overwhelmingly high” for this to happen, especially after Donald Trump’s crypto-friendly stance post his presidential election win.
In a recent interview with the Financial Times, Sigel expressed his expectations for the US Securities and Exchange Commission to approve more cryptocurrency products, paving the way for the potential launch of several proposed crypto ETFs in the country.
Following Trump’s victory, the likelihood of regulatory approval for Solana and other altcoin ETFs has increased significantly. Asset managers submitted numerous regulatory filings in 2024 for ETFs holding altcoins like XRP and Litecoin, as well as crypto index ETFs containing diversified token portfolios.
According to ETF analyst Eric Balchunas, these filings can be seen as “call options on a Trump victory,” suggesting a more lenient regulatory environment for cryptocurrency under his administration.
While the SEC has taken a stricter stance on crypto under President Joe Biden, Trump’s approach is expected to be more libertarian, potentially leading to a more favorable regulatory environment for digital assets.
With the possibility of a new SEC chair under Trump’s administration, the crypto community is eagerly anticipating the approval of various crypto ETFs and other related products in the US market. The recent reviews of proposals for a Grayscale crypto ETF and Ether ETFs indicate a positive shift in regulatory sentiment towards cryptocurrencies.
In light of these developments, industry experts like Matt Hougan from Bitwise Asset Management believe that the US election outcome is a significant victory for the crypto industry. As regulatory hurdles ease, the future looks promising for the expansion of crypto investment opportunities.
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