$SOL
Solana ETFs will arrive in Canada before the U.S., says businesswoman
The CEO of Sol Strategies believes that before issuing a fund, it is important to take the time to work with regulators and educate them.
The SEC has received several applications for Solana ETFs.
In the U.S., there are 4 authorization requests to issue Solana ETFs.
Approving all ETFs overnight could be dangerous.
The launch of an exchange-traded fund (ETF) based on Solana (SOL) seems to be closer to happening in Canada than in the United States, according to Leah Wald, CEO of Sol Strategies, a company that seeks the continuous development of the Solana network and its ecosystem through its private equity and financial market activities.
Wald explained that, although expectations are high, the process in the United States will take more time due to the need to work closely with regulators and educate them about the Solana ecosystem.
Currently, four companies have requested authorization to issue a Solana ETF in the United States: VanEck, Canary Capital, 21Shares, WisdomTree, and Grayscale.
However, Wald noted that approving all ETFs "overnight" would be a risky move. For her, the ideal is for regulators to take the necessary time to understand the particularities of each cryptocurrency and collaborate with potential issuers before issuing an approval.
This approach, Wald argues, helps ensure a more robust and well-informed regulatory framework. As a former head and co-founder of Valkyrie Investments, a firm that already operates a Bitcoin ETF in the United States, Wald is closely familiar with the dynamics between issuers and regulators.