VanEck: The approval of Solana spot ETF depends on the US election and the chairman of the SEC

Bitcoin and Ethereum spot ETF issuer VanEck submitted the application documents for the Solana Fund (VANECK SOLANA TRUST) to the US Securities and Exchange Commission (SEC) on the 27th of last month, becoming the first issuer to apply for the Solana spot ETF. Subsequently, 21share, also an issuer, also submitted the Solana spot ETF application documents to the SEC the next day (28th).

Although issuers have successively submitted Solana spot ETF application documents, what is the probability of approval? In this regard, Matthew Sigel, head of digital asset research at VanEck, believes that the US election is an important timing point.

The approval of Solana spot ETF depends on the US election and the chairman of the SEC

We know that former President Trump has publicly supported cryptocurrencies many times, and Solana supporters believe that the approval of Solana spot ETF will depend on whether Trump can win the election in November. According to Decrypt, Matthew Sigel affirmed this view in an interview, but Sigel also added that whether SEC Chairman Gary Gensler will continue to serve as SEC Chairman is also important.

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