VanEck’s Bold Move
VanEck, a major investment firm, has filed for a Solana (SOL) exchange-traded fund (ETF). This move has raised eyebrows, as it’s the first such filing in the US.
Trump’s Influence
VanEck’s head of digital assets research, Matthew Sigel, has confirmed that the ETF filing is a bet on Donald Trump winning the 2024 presidential election.
Trump has recently expressed support for cryptocurrencies, earning him favor among some in the industry. However, his past views on crypto have been mixed.
SEC Approval
The Securities and Exchange Commission (SEC) must approve the ETF before it can be listed. Some analysts believe that a change in the SEC’s leadership could make approval more likely.
Competition
VanEck is not the only firm seeking a SOL ETF. 21Shares also filed for one last week.
Disclaimer
The views expressed in this article are not investment advice. Investors should conduct their own research before making any investment decisions.
