30s Summary

Matthew Sigel, head of digital asset research for VanEck, predicts that a Solana (SOL) exchange-traded fund (ETF) could be launched in the U.S by the end of 2025. Following Trump’s election win, he anticipates that the U.S. Securities and Exchange Commission (SEC) will approve more cryptocurrency products. He suggests that Trump might appoint a more libertarian SEC chair, possibly Summer Mersinger, a Republican CFTC commissioner known for her lenient approach towards crypto. There were many applications for crypto ETFs including SOL, XRP and Litecoin, while Grayscale’s application to list the first multi-cryptocurrency ETF is currently under consideration.

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Matthew Sigel, who’s head of digital asset research for VanEck, reckons there’s a really good chance we’ll see a Solana (SOL) exchange-traded fund (ETF) in the U.S. by the end of 2025. He shared his thoughts on November 15th.

Sigel thinks that with Trump’s win in the presidential election on November 5th, the U.S. Securities and Exchange Commission (SEC) will be more open to approving new crypto products.

“Expect to see the SEC greenlighting more crypto products than they have over the past four years,” Sigel told the Financial Times. “I’m pretty confident we’ll see a Solana ETF trading before next year is out.”

After Trump’s victory, plans for over half a dozen new crypto ETFs are now waiting for the green light from regulators to start trading in the U.S.

In 2024, there were tons of submissions to regulators from asset managers wanting to list ETFs that hold various cryptocurrencies, including SOL, XRP and Litecoin, to name just a few.

Under Biden, the SEC’s been pretty tough on crypto, taking action against over 100 crypto businesses. Bloomberg Intelligence’s Eric Balchunas predicts Trump “will definitely put in a more libertarian [Securities and Exchange Commission] chair.”

Meanwhile, the rumor mill is saying that Trump is considering Summer Mersinger, a Republican CFTC (Commodity Futures Trading Commission) commissioner who’s been encouraging the regulator to ease up on crypto, for the role of chair of the CFTC.

On November 4th, the SEC began considering Grayscale’s application to list the first ETF to include a mix of different cryptocurrencies, several of which are altcoins.

“For the past four years, crypto’s been fighting an uphill battle, what with a hostile SEC, regulatory doubt and limited access to basic banking services,” said Matt Hougan, chief investment officer of Bitwise Asset Management in a conversation with the Financial Times. “Picture what happens when the resistance lessens,” Hougan mused.