VanEck, a big name in finance, isn’t expecting their Solana (SOL) ETF to get approved anytime soon. Their CEO, Jan van Eck, says it’s unlikely, even though Ethereum (ETH) ETFs just launched this week.
Politics Play a Role
Van Eck thinks the US presidential election in November could be a game-changer. He believes a Republican win would be good news for crypto, as they’re seen as more supportive of blockchain technology. The current Democratic administration is considered less friendly towards crypto.
Ethereum ETF Launch Goes Smoothly, But Interest Is Lower
VanEck’s Ethereum ETF (ETHV) launched without any issues this week. However, van Eck expects interest in the ETF to be lower than for Bitcoin (BTC) ETFs. He says Ethereum’s market cap is about a third of Bitcoin’s, so investor interest will likely be less.
The Bottom Line
For now, it looks like Solana ETF fans will have to wait. But if the Republicans win the election, there might be a better chance for approval. And even though the Ethereum ETF is here, don’t expect it to be as popular as Bitcoin ETFs.
