SOL ETFs unlikely to be approved in the US 'anytime soon'


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ICYMI, Sol Strategies Announce It was investing C$25 million ($17.4 million) into the Solana ecosystem earlier this week.

CEO Leah Wald told me before the new year that Sol Strategies is focused on building the “next level” of its business strategy.

Obviously, given Solana's focus, the company would be bullish on the ecosystem, but Wald noted how pleasantly surprised she is by the amount of developer activity and overall enthusiasm for Solana right now.

However, she is skeptical about the Solana ETF being approved in the US “anytime soon”.

“I think there is some time until the SOL ETF is approved. During that period, as a former issuer, I know you have a lot of time working with employees and working on education,” she explained. “It gives (potential issuers) a year... to educate employees and make sure Making sure everyone is up to speed on what SOL actually knows, the features and benefits, and providing...that extra timeline for maturity.

But she believes Canada is more likely to approve a SOL ETF 3iQ Before we see a large number of American products because the Canadian exporter is “always ahead of the United States.”

Out of curiosity, and given Wald's experience, I urged her to explain why she thought a potentially crypto-friendly regulator wouldn't look to have an ETF keep SOL out the door. Part of her reasoning, she told me, was precisely because of the changing leadership at the SEC.

"If the new SEC chairman comes in and says, 'Okay, all these crypto ETFs were approved overnight,' I think that's actually dangerous," she explained. It would be better to see a regulator willing to get to work understanding The differences between something like Solana and Ripple and talking to potential issuers before just giving the green light to ETFs.

I think we will have to make do with the crypto ETFs we have at home.


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