Solana ETF application is affected by political winds and market sentiment
Recently, 21 shares, an institution, submitted Solana’s ETF application, which attracted widespread market attention. At the same time, people began to speculate that VanEck and 21 shares may be betting on Trump's re-election as president of the United States.
As previously reported, Trump has shown an increasingly friendly attitude towards the cryptocurrency market in the past few months. Therefore, if Trump is re-elected, the likelihood of the Solana spot ETF passing will greatly increase. As a result, many believe VanEck and 21 Shares may have filed for the Solana ETF in anticipation of Trump's election.
On the contrary, according to the general view of market analysis, if Biden is re-elected in this year's election, the chance of passing the Solana spot ETF is almost zero. This suggests that VanEck and 21 Shares’ filings may be closely tied to Trump’s stance on cryptocurrencies. Because they believe that if Trump wins the November election, the likelihood of approval of the Solana ETF will increase significantly.
Although the market is full of expectations for the application of Solana ETF, some people are not so optimistic about this event. By comparing media reports and discussions on the Solana spot ETF and early Bitcoin and Ethereum ETFs, it can be found that the Solana ETF has received significantly less attention. This suggests that market expectations for the Solana ETF may be overvalued.
In summary, the application and approval of Solana ETF is a complex process, which is not only directly affected by market demand and regulatory policies, but may also be closely linked to the company's strategic choices and political stance. Therefore, while investors are paying attention to this event, they should also consider various possible risk factors and make rational judgments. #SolanaETF
