Altcoins
Anthony Pompliano speaks on the Solana exchange-traded fund
Gamza Khanzadaev
As New York-based VanEck offers Solana ETF, Anthony Pompliano heralds a new era for altcoins on Wall Street
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New York-based investment firm VanEck is making waves with its recent proposal to launch a spot Solana ETFdubbed the VanEck Solana Trust. The fund’s objective is to provide direct exposure to GROUNDTo do this, it uses the prices of selected trading platforms to value its shares daily.
This is in line with the SEC’s recent approval of Bitcoin ETFs and the pending approval of several Ethereum ETFincluding one from VanEck.
Anthony Pompliano, a big name in the industry, pointed to the ETF filing as evidence that altcoins are making their way to Wall Street. Pompliano said cryptocurrencies make public markets more volatile and riskier, supporting the idea that more institutions are looking at digital assets beyond just digital assets. Bitcoin and Ethereum.
On the other hand, Bloomberg ETF analyst James Seyffart was a bit more cautious, pointing to potential regulatory hurdles. Seyffart said that while VanEck has filed for the Solana ETF, the launch could take some time depending on how the political system evolves.
He said an official 19b-4 filing, which is important for establishing a timeline, is not yet available, so it appears the launch could happen no sooner than mid-March 2025.
Looking ahead, a few questions arise regarding the regulatory environment and approval timeline. The key thing to watch is how market dynamics and investor sentiment will change as more altcoin ETF proposals are considered.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza holds a degree in Finance and Credit with a specialization in Securities and Financial Derivatives. He also completed a Master’s program in Banking and Asset Management.
He wants to participate in covering economic and financial technology topics, as well as raising awareness about cryptocurrencies and blockchain.