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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 stage” of its enterprise technique.
Clearly, given Sol’s focus, the agency is gonna be bullish on the ecosystem, however Wald famous how pleasantly shocked she was on the quantity of developer exercise and general enthusiasm for Solana proper now.
She is skeptical, nonetheless, a couple of solana ETF being authorised within the US “anytime quickly.”
“I feel there’s fairly some time till a SOL ETF will get authorised. 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 employees and also you’re engaged on training. That provides [potential issuers] a 12 months…to coach the employees and make it possible for everyone’s up to the mark on what you recognize SOL really is, and the deserves and advantages, and supply…that further timeline for maturity,” she defined.
However she does assume 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 stated, ‘okay, all crypto ETFs are authorised in a single day,’ I feel that that’s harmful, really,” she defined. It could be higher to see a regulator who’s keen to place within the work to know the variations between one thing like Solana and Ripple and communicate to potential issuers prior to simply greenlighting ETFs.
I assume we’ll need to make do with the crypto ETFs now we have at house.
