VanEck Remains Committed to Solana ETF Despite Filing Removal
Even after recent developments raised questions about the future of the Solana exchange-traded fund (ETF), asset manager VanEck has affirmed its dedication to launching the product.
Cboe Filing Removal Clarification
In response to concerns surrounding the removal of the Cboe Global Markets’ regulatory filing for the Solana ETF, Matthew Sigel, VanEck’s head of digital assets research, provided clarity in a recent statement.
- Sigel acknowledged the removal of the 19b-4 filing from the Cboe website, but assured that the S-1 prospectus for the VanEck Solana ETF is still active.
- This indicates that VanEck is moving forward with its plans for the ETF, despite the absence of the initial filing.
Uncertainty Surrounding Solana ETF Approval
Following the disappearance of the Cboe filing, doubts have emerged regarding the likelihood of the Solana ETF gaining approval from the SEC under the current regulatory environment.
- Scott Johnsson, general counsel at Van Buren Capital, expressed skepticism about the ETF’s prospects, suggesting it may face challenges due to regulatory categorization issues.
- Nate Geraci, president of the ETF Store, shared similar concerns, believing that the recent developments indicate a challenging road ahead for the Solana ETF.
VanEck’s Commitment to Solana ETF Proposal
Despite the uncertainties and challenges, VanEck maintains its commitment to advocating for the approval of the Solana ETF.
- Sigel reaffirmed the company’s stance that Solana should be viewed as a commodity, similar to other well-known cryptocurrencies like Bitcoin and Ethereum.
- He pointed to evolving legal perspectives that support treating certain crypto assets as commodities in secondary markets.
Hot Take: Future of Solana ETF
As deliberations continue regarding the fate of the Solana ETF, the crypto community eagerly awaits further updates on VanEck’s efforts to secure regulatory approval for the innovative product.
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