🚀 VanEck is filing for ETF approval on Solana (SOL), but regulatory hurdles could be significant. SEC Commissioner Gary Gensler has set strict conditions for altcoin ETFs, including the presence of a regulated futures market for Solana, which does not yet exist.

🗳️ Matthew Siegel, head of digital asset research at VanEck, suggests that a change in the SEC's position may depend on new leadership after the 2024 election. He emphasizes that both major political parties have taken notice of the pro-crypto sentiment among voters.

💼 Siegel confirmed that VanEck's proposal for the Solana spot ETF is largely dependent on Donald Trump winning the US presidential election.

Your opinion? Let's discuss in the comments! 👇