Chief Executive Officer of the financial VanEck claims that Solana is a Solana.SOLIt is not likely that an exchange-traded funds (ETFs) will be released anytime soon, unless a key event happens.
VanEck CEO Jan van Eeck gave a recent interview to CNBC Squawk Box. says This is despite the fact that Ethereum (ETHThis week ETFs launched and were approved.
“We filed for a Solana ETF, and Solana is competing with Ethereum, but I don’t think that’s going to be a short-term listing.”
When asked whether a SOL-ETF would be likely to get the green light if the Republican Party wins the US Presidential Election this November, he replies yes.
The current US Democratic President Joe Biden, and his administration, are perceived to be against crypto. However former US president Donald Trump and Republican presidential candidate Donald Trump openly supports cryptocurrency.
Says van Eck,
“The parties have really split in terms of their support of blockchain software.”
VanEck has launched an Ethereum ETF, ETHV (this week) without any issues. However, he believes that investment will be lower than the Bitcoin ETF.BTC) ETF.
“Ethereum products have traded around the world for several years now, and the launch was very smooth. I think there were a lot of kinks when it came to the Bitcoin ETFs in January, but now things are going well. Ethereum’s market cap is like a third of Bitcoin’s, and I think investor interest will be less. Today’s flows are in the 10% to 20% range of Bitcoin’s flow, so a lot lower interest.”
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