Approval Comment from VanEck Applying for Solana ETF: This is the Only Obstacle!

The manager of the American investment company VanEck said under what conditions the Solana ETF approval could be accepted.

In an interview with Bloomberg, Matthew Sigel, Head of Digital Asset Research at VanEck, stated that the likelihood of Solana's spot ETF application varies greatly depending on the outcome of the 2024 presidential election and whether U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler remains in office.

VanEck, which already has a spot ETF for Bitcoin and is trying to establish a spot ETF for Ethereum, announced by applying to the SEC that it was trying to do the same for Solana.

In his statement, Sigel used the following statements:

Crypto voters are likely to make a difference in this election.

It all depends on the SEC

Stating that the applications for the Ethereum ETF are progressing smoothly with the SEC, Sigel said that if Ethereum ETFs are definitely allowed, this will be an indication that ETH is accepted as a commodity.

Stating that the outcome of the Solana ETF application depends entirely on the SEC, the manager included the following sentences:

With little change in the regulatory environment in Washington, we think they will be approved. I can't say no way. You know, we may still have a new SEC chairman.

Even if Biden wins. So it all depends on the SEC chairman.

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