Asset managers VanEck and 21Shares have officially submitted S-1 applications to the US Securities and Exchange Commission (SEC) for the first spot Solana ETF in a major development for the cryptocurrency industry.
This move comes as the Bitcoin ETF market has experienced significant success since its launch in January, with the Ethereum ETF market expected to commence trading in the upcoming week.
However, Matthew Sigel, VanEck’s Head of Digital Asset Research, has emphasized that the ultimate approval and likelihood of trading for the anticipated Solana ETF market heavily depend on the outcome of the upcoming US Presidential election.
This is due to notable differences in their approaches to crypto regulation and the potential change in SEC leadership, which plays a pivotal role in the approval process.
Sigel Calls For Fair Approval Process For Solana ETF
During a recent Bloomberg interview, Sigel highlighted the…
