Recently, Matt Sigel, head of digital asset research at VanEck, made waves with his predictions regarding the potential launch of ETFs on Solana (SOL).
According to Sigel, Donald Trump’s pro-crypto stance could prove decisive for the future of altcoin ETFs, including Solana.
VanEck and the ETF on Solana: a strategic step
In June 2024, VanEck, one of the leading asset management companies in the world, submitted an application for an ETF based on Solana (SOL). This financial instrument would allow traditional investors to access SOL without having to purchase the cryptocurrency directly.
Sigel has defined the deposit as a “calculated bet,” with an eye on the United States presidential elections of 2024.
According to the analyst, a possible re-election of Donald Trump could inaugurate a more favorable phase for the cryptocurrency sector.
The forecast is based on the pro-market and pro-crypto stance historically taken by the former president, which could push the Securities and Exchange Commission (SEC) towards a more lenient approach compared to the last four years.
Solana has established itself as one of the most promising blockchains, thanks to its speed, scalability, and low transaction costs. Its growing adoption in sectors such as decentralized finance (DeFi), NFT and Web3 gaming makes it one of the most sought-after altcoins by investors.
An SOL ETF could represent a turning point for the market, attracting institutional capital and increasing the token’s liquidity. VanEck already has experience in creating crypto ETFs, having launched similar products for Bitcoin and Ethereum. Now, with the focus on Solana, the company demonstrates confidence in the long-term potential of this blockchain.
Trump and the future of altcoin ETFs
Matt Sigel expressed his opinion on the possible impact of a Trump reelection on the cryptocurrency market. The analyst believes that an administration led by the former president could adopt a more friendly policy towards criptovalute, paving the way for greater approval of ETF sulle altcoin by the SEC.
In recent years, the SEC has adopted a strict approach towards cryptocurrencies, denying numerous ETF requests and pursuing companies like Ripple. However, a political shift could change this landscape.
Sigel is convinced that a pro-crypto presidency could accelerate the regulatory process, offering greater clarity to industry operators and paving the way for innovative products like the ETF SOL.
Crypto ETFs have gained popularity as regulated investment vehicles that allow investors to gain exposure to the cryptocurrency market without facing the technical complexity of direct purchasing. Solana, thanks to its rapid rise, represents a natural choice for a new product of this type.
According to analysts, the approval of a SOL ETF could push the token’s price to new highs, while simultaneously increasing its visibility among traditional investors. In a market context already marked by the approval of spot ETFs on Bitcoin, the interest in similar products on altcoins is bound to grow.
The challenges for the ETF on Solana (SOL), according to VanEck
Despite the optimism of VanEck and Sigel, the path to the approval of a SOL ETF is not without obstacles. The SEC has shown to be cautious in approving crypto products, often citing concerns related to transparency, market manipulation, and investor protection.
However, the growing adoption of Solana and its reputation as one of the most stable and high-performing blockchains could work in its favor. If the SOL ETF is approved, it will represent not only a success for VanEck, but also a significant milestone for the entire crypto ecosystem.
The forecasts of Matt Sigel regarding VanEck’s SOL ETF offer an interesting look at the future of cryptocurrencies and their integration into the traditional market. Solana, with its technological potential and the support of an influential company like VanEck, is in a privileged position to lead this transformation.
The political impact, particularly the possibility of a Trump reelection, could accelerate the approval of new crypto products by the SEC, making 2024 a crucial year for the sector. For investors and crypto enthusiasts, the future of Solana and its possible ETF represents one of the most compelling stories to follow in the coming months.
