With more than $100 billion in assets under management, Matthew Sigel, head of digital assets research at VanEck, said the SEC chairman would have to change to approve Solana spot ETFs.

In an interview with Bloomberg, one of the US media, Sigel said that he did not accept the criticism that “there is no regulation even in futures” for Solana spot ETFs and said the following:

“I don’t agree that the lack of regulation in the futures markets will be a disadvantage for the Solana ETF. There are ETFs in the shipping, uranium and electricity sectors, and their prices are not set according to the futures markets. This is not necessary for the Solana ETF. We can easily manage these ETFs safely.”

“Elections will be decisive”

Sigel, who said that he thinks the US elections will be decisive for the entire crypto world, such as the Solana ETF, stated that the Solana ETF could be approved even if the Biden government remains in office:

“For Solana spot ETFs to be approved, the perspective in Washington needs to change. The elections will be decisive in this sense. Then ETFs will be approved. Crypto investor votes will also be important in this election. We also see the reflections of this on politicians. Even if the Biden government continues, Solana ETFs may be approved. It would be essential for the SEC to change its perspective as an institution. This will only happen with the appointment of a new chairman.”

VanEck’s Bitcoin spot ETF is currently trading in the US. The company’s Ether spot ETF will also open for trading in a few weeks, pending approval of its S-1 filings.