VanEck CEO Rules Out the Approval of a Spot Solana ETF in the US Over the Short Term – Unless This Happens
The chief government of the monetary big VanEck says that a Solana (SOL) exchange-traded fund (ETF) is unlikely to be accessible anytime quickly except one key occasion happens.
In a new interview on CNBC Squawk Field, VanEck CEO Jan van Eck says that he doesn’t count on their software for a SOL ETF to win approval in the close to time period, despite the fact that Ethereum (ETH) ETFs have been accredited and launched this week.
“We filed for a Solana ETF, and Solana is competing with Ethereum, but I don’t think that’s going to be a short-term listing.”
Nonetheless, when requested if a SOL ETF would doubtless get a inexperienced gentle to launch if the Republican Occasion prevails in the US Presidential election this November, he says sure.
Present US Democratic President Joe Biden and his administration are perceived as being anti-crypto, whereas Republican presidential nominee and former US president Donald Trump has overtly supported crypto.
Says van Eck,
“The parties have really split in terms of their support of blockchain software.”
He additionally says that VanEck’s Ethereum ETF (ETHV) launch this week went forward with none issues, however he says funding in the product is not going to attain the degree seen for Bitcoin’s (BTC) ETF.
“Ethereum products have traded around the world for several years now, and the launch was very smooth. I think there were a lot of kinks when it came to the Bitcoin ETFs in January, but now things are going well. Ethereum’s market cap is like a third of Bitcoin’s, and I think investor interest will be less. Today’s flows are in the 10% to 20% range of Bitcoin’s flow, so a lot lower interest.”
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