Solana, Not XRP: VanEck Lead Explains Choice For Spot ETF Application
Summary
VanEck's Head of Digital Assets Research, Matthew Sigel, explained the firm's decision to file for a Solana-based ETF over XRP, citing Solana's decentralization and similarities to Ethereum. He expressed optimism for a spot Solana ETF despite the absence of a significant regulated futures market. Sigel also highlighted regulatory challenges and suggested that recent court rulings on XRP and BNB could impact ongoing legal battles. He identified internal conviction and customer demand as obstacles for an XRP ETF. VanEck aims to introduce similar products in the US, contingent on regulatory approval and market conditions. At the time of the article, SOL traded at $142.
