Bitrabo Editorial
Despite recent regulatory challenges, Matthew Sigel, the head of research at VanEck, reaffirmed the company’s commitment to the Spot Solana Exchange-Traded Funds (ETFs) by confirming that the fund’s prospectus is still active.
Firm Belief in Spot Solana ETFs
Speculation arose when the Solana spot ETF forms were removed from the CBOE website, leading to questions about VanEck’s application status with the SEC. Sigel’s response emphasized that VanEck’s filing for the spot SOL ETF remains intact, indicating the firm’s dedication to launching the product in the US market.
Sigel reiterated the firm’s confidence in Solana as a commodity comparable to Bitcoin and Ethereum, citing its decentralized nature, utility, and economic significance. This stance aligns with evolving legal perspectives recognizing some crypto assets as commodities in secondary markets and securities in primary markets.
Solana’s Prominence on VanEck’s Radar
Sigel highlighted Solana’s decentralization progress, noting that the top 100 holders own 27% of SOL’s market supply, with the top 10 addresses controlling less than 9%. He pointed out Solana’s Nakamoto Coefficient of 18, signifying high decentralization with a vast network of validators across multiple countries.
Anticipated developments, such as the Firedancer client, are expected to further enhance Solana’s decentralization, preventing central entities from dominating the blockchain. VanEck remains steadfast in championing this perspective with regulatory authorities and exchange partners.