The funding agency VanEck filed a criticism with america Securities and Change Fee (SEC) software to launch the primary solana (SOL) exchange-traded fund (ETF).
The doc was printed on the official website of the SEC. On this context, the top 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 purposes, together with funds, buying and selling, gaming and social interactions.
After the announcement, cryptocurrency worth skyrocketed and on the time of publication of this word 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 choice again within the highlight. As CriptoNoticias already reported, For this physique, SOL is an unregistered safety and for that reason it should be regulated by america Securities Legislation., in contrast to what occurs with bitcoin (BTC) and ether (ETH). On this regard, Sigel acknowledged:
“We imagine that the native token, SOL, features equally to different digital commodities corresponding to BTC and ETH. It’s used to pay for transaction charges and providers. Like ether on the Ethereum community, SOL could 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 could find an internet site, you could find a gaggle of entrepreneurs, they will set up their authorized entities in an offshore tax haven, they will have a basis, they will current a lawyer to attempt to arbitrate and hinder jurisdictionally, etcetera”, he defined. And he argued that it is because of this, all the things that’s not BTC, needs to be beneath the management of the SEC.