Now is the open regulatory season for digital assets in the United States, and not only because the incoming president launched a Memecoin de Solana on the eve of its inauguration. Now, they propose and other memecoras are proposed as assets for a new Cryptocurrency ETF series. In just over a month, the US cryptographic market. Uu. It went from facing an absurd amount of obstruction to an absurd amount of, well, absurd.
While I can barely imagine that a financial advisor tells me: “You are a little sub-assigned in $ Trump Coin”, the reality is that these new coins could be valid assets for an ETF. Another opinion is that they are completely useless.
A more generous vision is that they are a form of creative expression. They are not a symphony of Mozart, of course, but these coins, $ Bonk, $ Pengu, clearly have some cultural value. I can see why some investors, retailers and another, would be interested in an ETF of this type.
This takes us to Solana, which is now essentially the third largest asset in terms of market capitalization and, with much, the largest in terms of network use. Bitcoin, although initially imagined as a kind of digital cash, has become a digital value store. And Solana has taken the mantle of an intelligent blockchain contract with her unique test in the story that has the potential to feed all types of blockchain -based applications. It is time for a Solana ETF.
Read more: ‘It’s so early’: how Solana is competing with Ethereum for institutional interest
The base is there. He took 10 long years and a demand for Bitcoin’s ETF to be approved. After more challenges, an ETF Ethereum was also approved, with an asterisk. Each issuer that included providing “rethinking” rewards in their requests had to attack it. In doing so, the SEC effectively said that the emitters (and investors) could not participate in the government of these blockchains, but that they could invest in them.
As a result, all investors who have bought an ETF Ethereum since last May have lost the opportunity to gain performance in their asset, a performance that comes directly from supporting the safety of the block chain. If, instead of ETF shares, these investors bought the same amount of Ethereum and opted it (for example, with coinbase), they could win, for example, 2-4% APY, in exchange for letting their ETH use to maintain the safe blockchain. Whatever your policy, and as you feel about cryptocurrencies, the truth is that this puts American investors at a disadvantage. European investors already have ETP for other currencies, and also have access to rewards through them.
And yet, in the United States, we are still waiting for a Solana ETF of any kind. And it will certainly not include departing to start, since the emitters learned from the Ethereum case so as not to include it. In my opinion, the approval of Europe of the rethinking ETP should establish the precedent for a rethinking ETF in the United States.
As for why that rethinking ETF should be for Solana, well, the fact that the president’s memecoin was released in Solana is not an accident. It is a popular block chain that can handle billions in the volume of transactions, even when it is unexpected. Its scalability and power will inevitably apply to the assets of the real world in tradfi, and any other number of real world use cases. Not giving investors access to invest in this technology through their traditional financial accounts is as if we limit investors to invest in Amazon or Google during their initial offers. This is the reason why a Solana ETF must be approved: to give the broad retail and institutional investors access to the next largest asset after Bitcoin and Ethereum.
In summary: Solana is behind by an ETF of her own, and urges the new leadership in the SEC to approve the applications they have inherited from those such as the gray scale, Vaneck, 21Shares, Canary Capital and Bitwise, and even encouraging them to reintegrate the reimbursements in their proposals. (Canary’s request has reached a second stage of review of the SC, indicating that it could be approved in due time).
It is still early, so we still have no long -term impacts on the focus of this administration to the cryptocurrency. But it is possible that you can advance in a new and better framework for crypto-active products. That would be worth the hype.
