VanEck’s Solana ETF Filing Bets on Trump Presidency

Matthew Sigel, head of digital assets research at VanEck, has revealed that the firm's filing for a Solana ETF is a strategic move anticipating a potential Donald Trump presidency.

VanEck recently became the first U.S. company to submit an S-1 registration statement to the Securities and Exchange Commission (SEC) for a SOL ETF.

Bloomberg ETF analyst Eric Balchunas interpreted this filing as a speculative bet on the upcoming presidential election, suggesting that regulatory approval might be more likely with a change in administration.

Balchunas speculated that under a Trump presidency, with figures like SEC Commissioner Hester Peirce possibly in charge, regulatory attitudes towards crypto could shift favorably.

Sigel confirmed Balchunas’ analysis on social media, noting that Trump’s recent positioning as a “crypto president” has garnered support from many in the digital assets sector, who view the current administration as less crypto-friendly.

However, Trump has had a complicated relationship with crypto, having previously instructed then-Treasury Secretary Steven Mnuchin to crack down on Bitcoin and later expressing skepticism about digital assets.

If approved, VanEck’s ETF, named the VanEck Solana Trust, would be listed on the Cboe BZX Exchange. Another fintech firm, 21Shares, also filed for a SOL ETF last week.

Author

Alexander Stefanov

Reporter at CoinsPress

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