Matthew Sigel, the pinnacle of digital property analysis at funding large VanEck, has confirmed that his agency’s Solana (SOL) exchange-traded fund (ETF) submitting is a wager on Donald Trump profitable the presidency.
VanEck grew to become the primary firm in the USA to file for a SOL ETF when it submitted an S-1 registration statement to the Securities and Alternate Fee (SEC) final week.
Bloomberg ETF analyst Eric Balchunas stated he thought the submitting was “a call option on the POTUS election.”
“The knee-jerk reaction here is: ‘oh, this will never be approved because there aren’t Solana futures.’ Agree, but if [there’s a] change at POTUS (President of the United States) I think anything [is] possible. Just imagine [Commissioner on the SEC] Hester Peirce (or someone like that) running the SEC.”
Sigel confirmed Balchunas’ hypothesis on the social media platform X on Monday.
Trump’s latest claims he’ll function “the crypto president” have earned him the help of quite a few digital asset stakeholders who understand the Biden Administration as having been hostile in direction of the sector.
The previous president has not all the time been a fan of crypto, nevertheless: In Might 2018, whereas serving within the Oval Workplace, he reportedly directed then-Treasury Secretary Steven Mnuchin to “go after Bitcoin [for fraud].”
Three years later, Trump stated in an interview that he owned zero cryptocurrencies, arguing that digital property have been “a disaster waiting to happen.”
VanEck’s ETF, which might be known as the VanEck Solana Belief, can be listed on the Cboe BZX Alternate if it’s accredited. The fintech agency 21Shares additionally filed for a SOL ETF final week.
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