Last barrier for Solana ETF! VanEck's Matthew Sigel comments on the conditions for approval of the Solana ETF, noting that the decision largely depends on the outcome of the 2024 presidential election and Gary Gensler's tenure as president of the SEC.
VanEck, which already has ETFs for Bitcoin and Ethereum, has filed with the SEC for an ETF for Solana.
Sigel emphasizes that if Ethereum ETFs are approved, this will indicate their acceptance as a commodity, and that with some changes in the regulatory environment, Solana ETFs could also be approved.
Sigel concludes: "It's all up to the SEC. Stay tuned for new information."
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