The potential approval of a Solana ETF, traded on a cryptocurrency-based exchange fund, has become one of the hottest topics in recent days. The trigger for the discussion was the news of the resignation of the current head of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, due to which the crypto project was in disgrace.
Regarding how Solana feels in light of the leadership change at the Commission and the factors that may bring SOL-ETF approval closer, BeInCrypto spoke with Ryan Li, the lead analyst at Bitget Research.
Reasons for optimism
Optimism around the potential approval of a Solana ETF, our interlocutor believes, is growing against the backdrop of the approval in the U.S. of spot ETFs for Bitcoin and Ethereum. Several companies, including VanEck, 21Shares, and Canary Capital, have filed applications to create a Solana ETF, indicating significant interest in the instrument from the financial sector.
The SEC's interaction with issuers through S-1 applications, noted Ryan Li.
The resignation of Gary Gensler, as well as the possible transfer of some powers of the Commission to a more crypto-friendly regulator, supported the growth of Solana and charged investors with optimism regarding the future of cryptocurrency.
