Matthew Sigel, the pinnacle of digital property analysis at funding big VanEck, has confirmed that his agency’s Solana (SOL) exchange-traded fund (ETF) submitting is a wager on Donald Trump successful the presidency.
VanEck turned the primary firm in america to file for a SOL ETF when it submitted an S-1 registration assertion to the Securities and Trade Fee (SEC) final week.
Bloomberg ETF analyst Eric Balchunas stated he thought the submitting was “a name possibility on the POTUS election.”
“The knee-jerk response right here is: ‘oh, this may by no means be accepted as a result of there aren’t Solana futures.’ Agree, but when [there’s a] change at POTUS (President of america) I feel something [is] potential. Simply think about [Commissioner on the SEC] Hester Peirce (or somebody like that) operating the SEC.”
Sigel confirmed Balchunas’ hypothesis on the social media platform X on Monday.
Trump’s latest claims he’ll function “the crypto president” have earned him the help of quite a few digital asset stakeholders who understand the Biden Administration as having been hostile in the direction of the sector.
The previous president has not all the time been a fan of crypto, nevertheless: In Could 2018, whereas serving within the Oval Workplace, he reportedly directed then-Treasury Secretary Steven Mnuchin to “go after Bitcoin [for fraud].”
Three years later, Trump stated in an interview that he owned zero cryptocurrencies, arguing that digital property have been “a catastrophe ready to occur.”
VanEck’s ETF, which might be referred to as the VanEck Solana Belief, can be listed on the Cboe BZX Trade if it’s accepted. The fintech agency 21Shares additionally filed for a SOL ETF final week.
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