Solana, Not XRP: VanEck Lead Explains Choice For Spot ETF Application

Quick Summary:

In an interview with Tony Edwards of Thinking Crypto, Matthew Sigel, Head of Digital Assets Research at VanEck, explained the firm’s decision to file for a spot Solana-based Exchange Traded Fund (ETF) rather than one based on XRP.

This indicates a strategic roadmap for potentially introducing similar products in the US, contingent on regulatory approval and market conditions.“It really is going to require clarity around first and foremost that the SOL ETF.

For XRP, Sigel identified significant obstacles in two key areas: internal conviction and customer demand.“When we think about XRP, we’re missing a few of them: internal conviction and customer demand.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: Hungary

Topics: Spot XRP ETF Matthew Sigel Solana news Crypto News SOL Solana XRP Vaneck XRP news XRP ETF Spot Solana ETF

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-10 @ 17:30:18 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 701 words

Reading Time: 4 minutes read

Sentences: 31 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21567543

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