Solana ETF Approval Stands Strong: VanEck Exec 🚨
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Solana ETF Approval Stands Strong: VanEck Exec
Research at VanEck, expressed confidence in the prospects of a Solana Exchange-Traded Fund (ETF). He believes that Solana ETF approval stands strong despite challenges posed by the absence of a regulated futures market. Sigel highlighted that while conventional wisdom often ties ETF viability to the existence of a robust futures market, sectors such as uranium and others have demonstrated that this correlation does not always dictate market success.
Solana ETF Approval Imminent
In a recent YouTube interview, Sigel pointed out that VanEck’s approach to launching a Solana ETF hinges on a deep dive into the decentralization and utility characteristics of the Solana blockchain. He noted, “When we examined the language around decentralization and characteristics of the blockchain… the ETH and SOL assets at this point are fundamentally the same.”
Moreover, VanEck believes that Solana’s decentralized nature and its utility as a commodity qualify it for consideration as an ETF asset. This is largely due to its role in providing access to a substantial open-source App Store. Despite the current regulatory landscape in the United States, where a significant futures market is typically seen as essential for ETF approval, Sigel expressed optimism.
He acknowledged the regulatory focus on a sizable, regulated futures market for transparency and price formation. On the flip side, the VanEck exec asserted, “We think this can get done but probably might need a different SEC chair.” Furthermore, Sigel highlighted VanEck’s international experience with Solana ETFs.
