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Application submitted to launch a solana ETF in the United States

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The funding agency VanEck filed with the US Securities and Change Fee (SEC) a software to launch the primary solana (SOL) exchange-traded fund (ETF).

The doc was printed on the official web site of the SEC. On this context, the pinnacle of Digital Asset Analysis at VanEck, Matthew Sigel, defined that they submitted this software as a result of “it’s a competitor to Ethereum, it’s an open supply blockchain software program designed to deal with varied functions, together with funds, buying and selling, gaming and social interactions.

After the announcement, cryptocurrency worth skyrocketed and on the time of publication of this be aware it registered a rise of 9% within the final 24 hours as seen within the following graph. Its worth is 148 {dollars}.

VanEck's submitting places the SEC's resolution again within the highlight. As CriptoNoticias already reported, For this physique, SOL is an unregistered safety and because of this it should be regulated by the US Securities Regulation., in contrast to what occurs with bitcoin (BTC) and ether (ETH). On this regard, Sigel acknowledged:

“We imagine that the native token, SOL, capabilities equally to different digital merchandise resembling BTC and ETH. It’s used to pay transaction charges and companies. Like ether on the Ethereum community, SOL might be traded on digital asset platforms or utilized in peer-to-peer transactions.”

Matthew Sigel, Head of Digital Asset Analysis at VanEck.

For his half, the president of the SEC, Gary Gensler, expressed months in the past what the variations are between BTC and cryptocurrencies, in his opinion. “Something aside from bitcoin you’ll find a web site, you’ll find a gaggle of entrepreneurs, they’ll set up their authorized entities in an offshore tax haven, they’ll have a basis, they’ll current a lawyer to attempt to arbitrate and hinder jurisdictionally, etcetera”, he defined. And he argued that it is because of this, all the pieces that isn’t BTC, needs to be below the management of the SEC.

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