According to Odaily, Hasseb Qureshi, a partner at Dragonfly Capital, has expressed skepticism about the likelihood of the SOL ETF getting approved. He suggests that VanEck's submission of the SOL ETF application might merely be a strategy to 'buy goodwill' and lay the groundwork for the development of similar products. This is because the U.S. Securities and Exchange Commission (SEC) has already explicitly stated that SOL is a type of security, and the regulatory body is unlikely to reverse this decision.
Qureshi's comments come in the wake of VanEck's application for the SOL ETF, a move that has sparked discussion within the financial sector. The SEC's stance on SOL as a security has been clear, and it is unlikely that they will change their position. This has led to doubts about the approval of the SOL ETF, despite VanEck's efforts.
The concept of 'buying goodwill' as suggested by Qureshi, refers to a strategic move by companies to foster positive relationships and establish a foundation for future initiatives. In this case, VanEck's application for the SOL ETF could be seen as a way to pave the way for similar products in the future, even if the current application does not get approved.
