VanEck Predicts High Likelihood of Solana-ETF Approval by 2025

The U.S. Securities and Exchange Commission (SEC) is expected to approve spot Solana-ETFs by the end of 2025, according to Matthew Sigel, head of digital asset research at VanEck, in a comment to the Financial Times.

“I think the chances of Solana-ETF approval by the end of next year are extremely high,” he said.

Sigel suggested that changes in SEC leadership could create opportunities for more innovation in the crypto industry and an increase in digital asset-based exchange-traded funds.

“We expect the SEC to approve more crypto products than in the past four years,” the expert added.

According to CIO of Bitwise, Matt Hougan, the U.S. presidential elections were a “huge win for cryptocurrencies,” which will “completely change the game.”

“For the past four years, the crypto industry has been working with one hand, maybe two hands, tied behind its back. It faced a hostile SEC, significant regulatory uncertainty, and limited access to mainstream banking services. Imagine what will happen when the headwinds subside,” he stated.

Hougan suggested that users will see “an explosion of crypto applications and mass adoption that will significantly impact the real world.”

In June, VanEck filed an application with the SEC to launch a spot Solana-ETF. In July, Sigel stated that the chances of this exchange-traded fund’s approval depend on the outcome of the U.S. presidential elections.

In September, Bitwise filed an application with the SEC to launch a spot XRP-ETF. In November, Swiss company 21Shares joined the asset manager. On November 16, the price of XRP surpassed $1 for the first time since December 2021.

In October, crypto investment firm Canary Capital filed an application with the SEC to launch a Litecoin-ETF.

On November 13, the cumulative trading volume of spot bitcoin-ETFs exceeded $500 billion.