VanEck reveals sole barrier to Solana ETFs

VanEck Announces that Only the Appointment of a New SEC Chairman is Needed for Solana ETF Approval
Matthew Sigel, the Head of Digital Assets Research at VanEck, has revealed that the approval of the Solana ETF is contingent on the appointment of a new SEC chairman.
After the approval of the Spot Ethereum ETF, the first applications for Solana ETFs have been submitted. VanEck was the first to apply for a Solana (SOL) ETF, followed by 21Shares.
In a recent interview with Bloomberg, Sigel emphasized that the approval of the SOL ETF is dependent on the appointment of a new SEC chairman after the US elections in November. He also mentioned that the lack of a regulated futures market for Solana could present a challenge for the approval of the spot ETF.
Despite the obstacles, Sigel expressed confidence in VanEck’s ability to gain approval for the SOL ETF, even without a futures ETF. He believes that a slight change in the regulatory environment in Washington could pave the way for the approval of the Solana ETF.
Sigel also noted that the possibility of approval for Solana ETFs will continue, regardless of the outcome of the US elections. He is optimistic that the appointment of a new SEC chairman or changes in the current SEC administration’s approach to cryptocurrencies could lead to a shift in perspective on cryptocurrencies.
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