Key Takeaways
Leah Wald, CEO of Sol Strategies Inc., has expressed her belief that the approval of a Solana ETF in the United States will face delays due to regulatory challenges. She anticipates that Canada may approve a Solana ETF before the US, given its track record of leading ETF innovations. Despite the growing interest in Solana and its ecosystem, Wald believes that regulatory challenges and the evolving leadership at the SEC will postpone any immediate approval for such a product.
Wald stated to Blockworks that she expects a considerable amount of time to pass before a SOL ETF is approved, as educating regulators about Solana’s unique attributes could take a year or even longer. She also mentioned that Canada is more likely to approve a Solana ETF before the US, citing Canadian issuer 3iQ, which has historically been ahead of the US in crypto-related approvals.
Wald expressed her belief that Canada has consistently been at the forefront of ETF innovation and predicts that they will lead the way once again with a Solana ETF. She also addressed the potential impact of Paul Atkins replacing Gary Gensler as SEC Chair.
While acknowledging that the leadership change could result in a more crypto-friendly regulatory environment, Wald cautioned against hasty approvals. She explained that approving all crypto ETFs overnight could be a risky move. Wald emphasized the importance of a measured approach to ensure that regulators fully understand the benefits and risks associated with individual crypto assets.
