Sign Up on MEXC
Highlights
- VanEck's Matthew Sigel is optimistic on the approval of their Solana ETF.
- He noted that the absence of a futures market shouldn't hinder the approval.
- Sigel also provided insights on recent regulatory developments and the SEC vs. Binance lawsuit.
Matthew Sigel, Head of Digital Assets Research at VanEck, recently 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 lack of a regulated futures market. Sigel highlighted that while conventional wisdom often ties ETF viability to the existence of a 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.
He spotlighted their successful deployment in Europe for nearly three years. This operational history positions VanEck advantageously as it has navigated regulatory hurdles and market dynamics for innovative financial products.
Additionally, the discussion also touched on the Canadian market, where 3iQ, another prominent financial player, has filed for a Solana Fund. Meanwhile, VanEck has faced competition from 21Shares as the firm also filed for a SOL ETF. These firms recently submitted the 19-b4 filings for their Solana ETFs. Furthermore, Bloomberg’s ETF analyst, Eric Balchunas, has provided a mid-March 2025 deadline for these ETFs.
Also Read: Institutional FOMO On Spot Bitcoin ETF As German Govt Continues BTC Sell-off
VanEck Exec Elucidates On SEC, Bitcoin & Ethereum ETFs
In addition, Sigel also reflected on the impressive performance and investor reception of Spot Bitcoin ETFs. He stated, “To have $16 billion in these products after six months… alerted the world that this asset class is here to stay.” He also underscored the role of institutional investors in early adoption.
Sigel highlighted hedge funds’ proactive stance compared to traditional advisors, foreshadowing broader market participation. Regarding Ethereum ETFs, Sigel acknowledged regulatory progress. He noted, “Gary Gensler described the Ethereum ETF process as running smoothly,” signaling potential approval pathways under Gensler’s leadership.
He tempered expectations, however, citing challenges such as the absence of staking rewards in US products. This could impact attractiveness relative to global counterparts. Sigel’s comments on SEC regulation under Gensler provided nuanced perspectives.
He critiqued regulatory inconsistencies, citing court rulings favoring decentralization in cases involving Ripple and Binance against SEC allegations. Sigel opined, “Federal judges ruling that secondary sales of assets like XRP or BNB are not securities transactions… are very positive for the Coinbase suit.”
In addition, Sigel believes that the necessity of a futures market for spot Ethereum, Solana and other crypto ETF approval is SEC Chair Gary Gensler’s “side out.” Moreover, he also highlighted the need for a new SEC Chair for better regulatory clarity.
Also Read: Singapore Exchange Ditches Bitcoin & Crypto ETF Listings, What’s Happening?
- Metaplanet Stock Shoots 17% After $30M Investment from Bitcoin Treasury Firm
- SUI Developer, Law Firm Met US SEC Ahead of ETF Decision, Here’s Why
- Hong Kong’s QMMM Stock Soars 1,700% Following Crypto Treasury Plan
- Avalon Labs Burns A Massive 93.9 Million AVL Tokens As Part of ‘Buyback and Burn’ Plan
- SOL Strategies Begins Trading on Nasdaq With $94M in Solana Holdings
- Meme Coin Price Prediction: Shiba Inu, Pepe Coin, Dogecoin, TRUMP
- HYPE Price Eye $88 the Next as Lion Group’s Treasury Shifts to Hyperliquid
- XRP Price Prediction as Ripple Ecosystem Growth Meets Technical Strength—Is $10 Next?
- Cardano Price Prediction as Sept Fed 50bps Cut Odds Surge – Is $1.65 Next?
- Chainlink Price Prediction: Analyst Sees 48% Rally as Grayscale ETF Filing Ignites Hype
