As a seasoned crypto investor with a decade of experience navigating the digital asset landscape, I find the recent news about potential Solana ETF listings in the US before 2025 incredibly promising. Having witnessed the ups and downs of this industry under various regulatory regimes, I can’t help but feel a sense of optimism about the future.
According to Matthew Sigel, Head of Digital Asset Research at VanEck, it’s highly likely that a Solana (SOL) exchange-traded fund (ETF) will be listed in the United States before the year 2025 ends.
Based on his expectations, Sigel believes that the U.S. Securities and Exchange Commission may endorse additional proposed cryptocurrency products following the reelection of President Donald Trump on November 5th, given his favorable stance towards digital currencies.
In a conversation with the Financial Times, Sigel stated that it’s likely the Securities and Exchange Commission (SEC) will endorse more cryptocurrency-related products than they have over the past four years.
“I think the odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year.”
Related: These crypto ETFs are ‘call options’ on the US elections
Trump’s presidency provides an opportunity for over a dozen proposed cryptocurrency ETFs currently awaiting regulatory clearance to be listed in the United States.
2024 saw a surge of regulatory applications from asset managers aiming to introduce ETFs containing cryptocurrencies such as Solana (SOL), Ripple (XRP), and Litecoin (LTC) alongside other alternatives.
Crypto index ETF issuers are eagerly awaiting the green light for various proposed funds, which aim to assemble a mix of different cryptocurrency tokens in their portfolios.
Essentially, these submissions functioned as bets on a Trump win in the U.S. presidential election, according to Eric Balchunas, an analyst specializing in ETFs at Bloomberg Intelligence, as stated on October 25th.
Under President Joe Biden’s administration, the Securities and Exchange Commission (SEC) has adopted a proactive regulatory approach towards cryptocurrencies, launching over 100 regulatory actions against various industry firms.
Trump is planning to appoint someone with libertarian views as the chair of the Securities and Exchange Commission, according to Balchunas.
The current chair of the Securities and Exchange Commission (SEC), Gary Gensler, has yet to have a successor announced by Trump. Previously on November 14th, it was reported that Chris Giancarlo, a former head at the Commodity Futures Trading Commission (CFTC), would not be taking over the position.
It’s said that Trump might choose Summer Mersinger for the role of heading the Commodity Futures Trading Commission (CFTC).
In the U.S., the Commodity Futures Trading Commission (CFTC) is a key player in overseeing regulated digital currency markets, ranking just behind the Securities and Exchange Commission (SEC).
As a crypto investor, I’ve taken notice of Mersinger, a Republican CFTC commissioner, advocating for a more welcoming approach by the regulatory body towards cryptocurrencies.
Starting on November 4th, the Securities and Exchange Commission (SEC) initiated an evaluation of Grayscale’s application for listing an ETF that would contain a variety of cryptocurrencies, encompassing multiple alternative coins.
Beginning on November 8th, U.S. regulatory bodies initiated a process to evaluate an application for listing the first Exchange-Traded Funds (ETFs) backed by Ether (ETH) on the NYSE American’s securities trading platform.
According to Matt Hougan, chief investment officer of Bitwise Asset Management, the recent election is seen as a significant triumph for cryptocurrency, marking a major shift in the financial landscape.
“For the past four years, crypto has been operating with one arm, maybe two arms, tied behind its back. It’s faced a hostile SEC, major regulatory uncertainty [and] constrained access to basic banking services.”
“Imagine what happens when the headwinds abate,” Hougan said.
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2024-11-15 22:29