Trump’s Presidential Bid Hinges on Securing Clearance for Solana ETF
U.S. Securities and Exchange Commission’s Less Biased Perspective on Cryptocurrencies Expected Under a Trump Administration
According to VanEck Director of Digital Asset Research Matthew Sigel, the request for a Solana ETF presented last week is based on a possibility of Donald Trump winning the presidential elections.
Key Highlights:
• Matthew Sigel confirmed rumors about VanEck’s Solana ETF application
• He expects the approval to happen only if Trump becomes President
• Trump has focused part of his speech on promises for the cryptocurrency sector
• They hope that a new presidency would bring a more objective view on cryptocurrencies by SEC
Matthew Sigel, Director of Digital Asset Research for VanEck, shed light on the company’s recent ETF application for Solana, stating that it was submitted with hopes that Donald Trump will win the presidential election in the United States. In a recent tweet, Sigel confirmed this thesis, stating, "VanEck Solana ETF filing may be a bet on Trump win."
Sigel’s clarification came amid rumors suggesting that VanEck had submitted a filing for a Solana ETF, which raised eyebrows among analysts who questioned its chances of approval. Despite the skepticism, Siegel justified that the company had high expectations of Trump winning and removing the President of the Securities and Exchange Commission, Gary Gensler, which would lead to a change in the agency’s perspective on cryptocurrencies, aligning with campaign promises.
Trump’s Perspectives on Cryptocurrencies During His Presidential Bid
Trump has been vocal about his stance on cryptocurrencies during his presidential campaigns. He has promised to respect the rights of investors, advocate for self-custody of Bitcoin and other digital currencies, and support crypto-mining activities. On the contrary, President Joe Biden’s administration has implemented policies that have raised concerns both within and outside the digital currency space.
Expectations for the Trump Presidency
With Trump as President, analysts predict that the agency’s perspective on cryptocurrencies will shift from Gary Gensler’s view. During his campaign, Trump touted himself as "the crypto president," stating that he will be a strong supporter of the crypto market and advocate for the self-custody of digital currencies.
Call to Action
Disclaimer: The presented information is for educational purposes only, not intended to be an investment advice or suggestion. Cryptocurrency investments may not be appropriate for retail investors, as they can be highly risky and result in loss of capital. Regulatory requirements for digital assets can vary by country, please consult laws and regulations before investing.