Solana ETF has better chances with Gensler out of SEC, VanEck says – DiarioBitcoin

According to a manager of VanEck, the position of the SEC It is more in line with Gensler’s position, so regardless of who becomes president of the US, a new direction for the agency will raise the prospects for ETFs. Solarium.

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• Matthew Sigel of VanEck shared some perspectives on the ETF Solarium proposed by the company
• They believe that this will have a chance if Gary Gensler leaves the presidency of the SEC
• Regardless of who the US president is, if Gensler leaves the SEC, There will be changes for the crypto sector
• Previously, Sigel confirmed that the ETF Solarium It is a bet of VanEck based on Trump becoming president

The director of the digital assets research area for VanEck, Matthew Sigel reiterated that a Solana-based exchange-traded fund (ETF) will have a better chance of hitting the market if the U.S. Securities and Exchange Commission (SEC) changes direction after the upcoming presidential elections.

The SEC and the possibilities for a Solana ETF cash

The clarification came during an interview conducted by the news agency Bloomberg, where very much in the tone of previous comments, Sigel believes that the ETF Solarium proposed by VanEck should not have any problems due to the similarities between SUN and ETH, but the SEC under the direction of Gary Gensler does not consider it so, perhaps due to the same pressures exerted by the president of the regulatory agency.

On this, Sigel commented:

There are those who think that there is no regulated futures market for Solana and that could be holding back the growth of the ETF. We believe that this is another psychological operation by Gensler. He has created this situation since he took power.

Therefore, he believes that if there is a new president for the US, most likely the SEC and regulatory conditions will face important changes given the relevance that these assets are currently having. “With the slight change in the regulatory environment in Washington, we believe these will be approved”Sigel alleged.

Although the possibility of a change associated with the election of a new president is being handled, Sigel argues that the most important factor depends on the direction that the election would take. SEC in this matter under new management:

“You know, we could still have a new SEC chairman. Even if Biden wins. So it all depends on the SEC chairman,” Indian.

A bet on Trump’s presidency

The reading shared by Sigel comes just days after publicly acknowledging that the proposal for an ETF Solarium in cash of VanEck It is based on the possible arrival of former President Donald Trump to the White House.

Analysts agree that Trump has known how to take advantage of this vacuum, and now, facing his campaign, he calls himself “crypto president”. It also assures that it will respect the rights of investors, advocate for self-custody of Bitcoin and other digital currencies, will support crypto mining activities and work to ensure that the future of the sector is in the US.

Biden has not exactly been left behind, and although the measures are a little more discreet in campaign issues, there seems to be an interest in wanting to reach the crypto sector since he has been consulting on the matter with certain members of the industry. However, the most palpable evidence of a change in policies is the apparent shift in the perspective of the SEC, who gave the go-ahead to ETFs Ethereum in cash and is about to authorize the launch of these products on the stock exchange.

However, after the presidential debate held last Thursday, public opinion suggests that Trump could have a very clear path to the presidency over Biden, so it remains to be seen whether the current president will remain in the electoral race, or give way to another candidate who has the support of the Democratic Party.

Coming back with VanEck, The company is waiting for authorization to launch its fund based on Ethereum in cash. And looking ahead to your ETF Solarium She doesn’t seem to be alone, since 21Shares also introduced before the SEC application for your own product associated with said digital currency.

Article by Angel Di Matteo / Bitcoin Diary

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