The likelihood of a Solana (SOL) exchange-traded fund (ETF) launching in the U.S. by the end of 2025 is “overwhelmingly high,” according to Matthew Sigel, VanEck’s head of digital asset research.
On Nov. 15, Sigel stated that the Securities and Exchange Commission (SEC) is expected to greenlight more cryptocurrency products following Donald Trump’s pro-crypto victory in the Nov. 5 presidential election.
“We would expect the SEC to approve more crypto products than they have in the past 4 years,” Sigel told the Financial Times.
“I think the odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year.”
Trump’s win has spurred optimism among crypto advocates, as over half a dozen proposed crypto ETFs are awaiting SEC approval.
In 2024, asset managers filed several applications to list ETFs for altcoins like Solana (SOL), XRP, and Litecoin (LTC), as well as crypto index ETFs holding diverse token baskets.
These filings were described by Bloomberg ETF analyst Eric Balchunas as “call options on a Trump victory.”
Under President Biden, the SEC took a stricter stance on crypto, initiating more than 100 enforcement actions against industry players.
Balchunas predicted Trump would appoint a more libertarian SEC chair to replace Gary Gensler.
While Trump has not named a replacement for Gensler, reports suggest he may nominate Summer Mersinger, a Republican commissioner at the Commodity Futures Trading Commission (CFTC), to lead that agency.
Mersinger has called for a more accommodating approach to crypto.
On Nov. 4, the SEC began reviewing Grayscale’s application for an ETF holding multiple cryptocurrencies.
Just days later, regulators started assessing the first options tied to spot Ether ETFs.
Matt Hougan of Bitwise Asset Management described Trump’s win as a “massive win for crypto,” stating it could end regulatory constraints and unlock new opportunities for the industry.
“Imagine what happens when the headwinds abate,” Hougan concluded.
