Could a Solana ETF debut in 2025? Expert weighs in

• VanEck's Mathew Sigel suggests that the odds of a Solana ETF approval are very high.
• BlackRock's Robert Mitchnick stated that the firm is not interested in crypto products other than Bitcoin and Ethereum.
• The new SEC administration will play a key role in driving support for newer crypto ETFs.

Solana (SOL) made the rounds across crypto communities on Friday as key executives from VanEck and BlackRock gave contrasting views on the possibility of a SOL exchange-traded fund (ETF) launching in the US.

VanEck expects more ETFs by 2025, BlackRock shows little interest

Since spot Bitcoin ETFs launched in January and the Ethereum ETFs in July, more ETF filings have knocked the Securities & Exchange Commission's (SEC) doors. Among these filings is the Solana ETF, which was first filed in June but has yet to receive the regulator's green light.

VanEck's Head of Digital Assets, Mathew Sigel, noted that a Solana ETF approval by the end of 2025 is highly probable.

"I think the odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year," Sigel stated. He suggested that a deviation from the current SEC administration's approach to crypto would "drive innovation."

Sigel noted that more traditional finance (TradFi) crypto products will see approval under the new SEC administration.

"We would expect the SEC to approve more crypto products than they have in the past four years," he added. He further stated that VanEck's product development team has begun work in preparation for more ETFs. VanEck was the first asset manager to file for a Solana in June.

In contrast to VanEck's optimism, BlackRock's Head of Digital Assets, Robert Mitchnik, stated that the firm has little interest in other crypto products aside from Bitcoin and Ethereum.

This means that the trillion-dollar asset manager may not be eager for the approval of more crypto ETFs.

Meanwhile, most crypto community members believe the slow response to filings of extra crypto ETFs is largely influenced by SEC Chair Gary Gensler, whose administration has effected a regulatory crackdown on several crypto companies.

However, with Donald Trump's presidential election victory, many expect Gensler to resign as SEC Chair.

Fox reporter Eleanor Terret stated in a post on X on Friday that Gensler may be planning to announce his resignation after Thanksgiving and step down in January before Donald Trump's inauguration.

"It's anyone's guess when his resignation announcement will come, but chatter in DC circles is that he'll likely announce after Thanksgiving his intention to exit in early January, ahead of Trump's inauguration," she wrote.

A change of guard at the SEC could significantly hasten the decision-making process for approving other crypto ETFs under Trump's presidency.