In the wake of history Spot Solana ETFs Approved in Brazil Last week, Manthan Dave, co-founder of Palisade, a digital asset custody platform powered by Ripple, confidently expressed optimism that SOL-based funds would be approved in the US by the end of the year.
Are Solana ETFs on the Horizon in the US?
Marty Barty, Host of Alpha Macro and Crypto Traders Club subscriber Palisade co-founder Manthan Dave expects X (formerly known as Twitter) to evolve. The co-founder’s prediction coincides with growing interest in Solana as a leading blockchain platform and the need for more diverse crypto investment solutions.
Dave highlights the recent acceptance of the venue. Sol He said that ETFs in Brazil and the growing adoption of crypto assets are key factors that could convince US regulators to adopt the products in the country. “This development could inspire the world’s largest economy, the US, to explore Solana-based ETFs in the future,” he added.
This is because Brazil has long been a cryptocurrency-friendly nation, being the first to issue spot Ethereum and Bitcoin ETFs years before the US did. Brazil has also maintained a friendly stance toward ETFs in Europe.
Furthermore, the co-founder claims that Solana ETFs The fund could be accepted by the end of this year, given the upcoming Republican presidential election season in the US and general market sentiment. “It’s also been trading in the German markets. People in the US have been clamoring for an ETF called Solana and now they may get one,” he added.
While Dave is confident in the approval, he noted that the crucial point to consider is whether it happens before or after the November election. However, if the money is approved before or after the election, it could have a significant impact on the market as Republicans are now seen as pro-crypto.
If the US regulatory body adopts these products, it would represent a major step forward. Solana And develop its ecosystem, which enhances its position in the financial markets and provides investors with a new way to evaluate the growth of digital assets.
Brazilian Regulator Accepts Spot SOL ETFs
Since Brazil’s Securities and Exchange Commission gave the green light to the funds, optimism about Solana has been building within the crypto industry. The development could put the country ahead of other crypto-friendly nations like the United States, where the products are expected to launch within 90 days.
Optimism about the product has also increased in the United States. So far, the famous investment management company VanEck Files for First SOL ETFs In the country with the US Securities and Exchange Commission.
The move comes a few months after a regulator gave the green light to Bitcoin ETFs and Ethereum spot ETFs. However, the SEC has not responded to the company’s request.
Featured image from YouTube, chart from Tradingview.com
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