【News】According to BlockBeats, investment management company VanEck has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an ETF that tracks the price of Solana's native token. This news has attracted widespread attention in the market after the SEC recently gave the green light to Ethereum-based ETFs. 😯

However, Haseeb Qureshi, partner at Dragonfly Capital, is skeptical about VanEck's move. He believes that VanEck may be buying goodwill and laying the foundation for future launches. He also pointed out that the SEC has made it clear that they believe SOL is a security, so VanEck's application may not pass.

Bloomberg Intelligence's ETF expert James Seyffart also agreed with this, believing that the fund is only likely to be launched sometime in 2025 if there are new administrators in the White House and the SEC.

It is worth noting that the SEC's enforcement department has made it clear that SOL is an unregistered security, which may be the biggest legal obstacle facing the SOL ETF. This view is based on securities laws passed in the early 1930s and the Howey test, which determines what constitutes a "security investment."

What do you think about this? Feel free to share your views in the comments section!