Solana ETF Launch Tied To 2024 Presidential Election, VanEck Research Head Explains
Summary
VanEck and 21Shares have submitted S-1 applications for the first Solana ETF to the SEC. Approval depends on the US presidential election outcome and SEC leadership changes. Democrats' support for pro-crypto legislation may influence the regulatory environment. Lack of a regulated futures market for Solana could hinder approval. Galaxy Digital's analysis highlights the significance of the FIT21 Act in clarifying regulatory boundaries. The fate of the Solana ETF depends on the election result, potential SEC leadership changes, and ongoing regulatory developments. Solana's native token SOL is trading at $141.
