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ICYMI, Sol Methods introduced that it was investing CAD $25 million ($17.4 million) within the Solana ecosystem earlier this week.
CEO Leah Wald instructed me forward of the brand new 12 months that Sol Methods was centered on increase the “subsequent degree” of its enterprise technique.
Clearly, given Sol’s focus, the agency is gonna be bullish on the ecosystem, however Wald famous how pleasantly stunned she was on the quantity of developer exercise and general enthusiasm for Solana proper now.
She is skeptical, nonetheless, a few solana ETF being authorized within the US “anytime quickly.”
“I feel there’s fairly some time till a SOL ETF will get authorized. Throughout that point, as a former issuer, I do know that you’ve got a very long time the place you’re working with the workers and also you’re engaged on schooling. That offers [potential issuers] a 12 months…to teach the workers and ensure that all people’s up to the mark on what you recognize SOL truly is, and the deserves and advantages, and supply…that further timeline for maturity,” she defined.
However she does suppose that Canada is more likely to approve a SOL ETF from 3iQ earlier than we see a slew of US merchandise as a result of the Canadian issuer is “at all times forward of the US.”
Out of curiosity, and given Wald’s expertise, I pushed her on why she thinks a doubtlessly crypto-friendly regulator wouldn’t look to get an ETF that holds SOL out the door. She instructed me a part of her reasoning was precisely due to the altering management on the SEC.
If the brand new SEC chair “got here in and mentioned, ‘okay, all crypto ETFs are authorized in a single day,’ I feel that that’s harmful, truly,” she defined. It might be higher to see a regulator who’s prepared to place within the work to know the variations between one thing like Solana and Ripple and converse to potential issuers prior to simply greenlighting ETFs.
I assume we’ll need to make do with the crypto ETFs we now have at house.
