• VanEck's Mathew Sigel suggests that the odds of a Solana ETF approval are very high.
  • BlackRock's Robert Mitchnick stated that the firm is not interested in crypto products other than Bitcoin and Ethereum.
  • The new SEC administration will play a key role in driving support for newer crypto ETFs.

Solana (SOL) made the rounds across crypto communities on Friday as key executives from VanEck and BlackRock gave contrasting views on the possibility of a SOL exchange-traded fund (ETF) launching in the US.

VanEck expects more ETFs by 2025, BlackRock shows little interest

Since spot Bitcoin ETFs launched in January and the Ethereum ETFs in July, more ETF filings have knocked the Securities & Exchange Commission's (SEC) doors. Among these filings is the Solana ETF, which was first filed in June but has yet to receive the regulator's green light.

VanEck's Head of Digital Assets, Mathew Sigel, noted that a Solana ETF approval by the end of 2025 is highly probable.

"I think the odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year," Sigel stated. He suggested that a deviation from the current SEC administration's approach to crypto would "drive innovation."

Sigel noted that more traditional finance (TradFi) crypto products will see approval under the new SEC administration.

"We would expect the SEC to approve more crypto products than they have in the past four years," he added. He further stated that VanEck's product development team has begun work in preparation for more ETFs. VanEck was the first asset manager to file for a Solana in June.

In contrast to VanEck's optimism, BlackRock's Head of Digital Assets, Robert Mitchnik, stated that the firm has little interest in other crypto products aside from Bitcoin and Ethereum.

This means that the trillion-dollar asset manager may not be eager for the approval of more crypto ETFs.

Meanwhile, most crypto community members believe the slow response to filings of extra crypto ETFs is largely influenced by SEC Chair Gary Gensler, whose administration has effected a regulatory crackdown on several crypto companies.

However, with Donald Trump's presidential election victory, many expect Gensler to resign as SEC Chair.

Fox reporter Eleanor Terret stated in a post on X on Friday that Gensler may be planning to announce his resignation after Thanksgiving and step down in January before Donald Trump's inauguration.

"It's anyone's guess when his resignation announcement will come, but chatter in DC circles is that he'll likely announce after Thanksgiving his intention to exit in early January, ahead of Trump's inauguration," she wrote.

A change of guard at the SEC could significantly hasten the decision-making process for approving other crypto ETFs under Trump's presidency.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Donald Trump backed World Liberty Financial triples Ethereum holdings ahead White House Crypto Summit

Donald Trump backed World Liberty Financial triples Ethereum holdings ahead White House Crypto Summit

Donald Trump’s World Liberty Financial increased its Ethereum holdings nearly threefold on Thursday, buying the recent ETH price dip. Ethereum hovers around $2,200, up nearly 1.5% on Thursday. 

More Ethereum News
White House Crypto Summit: What investors should know

White House Crypto Summit: What investors should know

The upcoming first-ever White House Crypto Summit will be held on Friday. The event will unite key industry leaders to explore how regulation and innovation can shape the cryptocurrency market's future.

More Cryptocurrencies News
Bitcoin recovers above $92,000 ahead of first-ever White House Crypto summit

Bitcoin recovers above $92,000 ahead of first-ever White House Crypto summit

Bitcoin extends recovery and trades above $92,000 on Thursday after rallying 5% in the last two days. A Glassnode report highlights that Bitcoin’s market reaction hinges on the $92,000, a key level for momentum, while $71,000 serves as critical support if BTC declines.

More Bitcoin News
Chainlink bulls target a 30% upside as key support holds strong

Chainlink bulls target a 30% upside as key support holds strong

Chainlink extends its gains by more than 4% on Thursday, trading around $17.22 after rallying nearly 13% in the last two days. On-chain data suggest a rally ahead as LINK's long-to-short ratio reaches its highest monthly level and its funding rates are positive. 

More Chainlink News
Bitcoin: BTC bloodbath continues, near 30% down from its ATH

Bitcoin: BTC bloodbath continues, near 30% down from its ATH

Bitcoin (BTC) price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP