VanEck, a wealth investment firm, is optimistic about the approval of a spot Solana (SOL) ETF by 2025, reflecting a broader community sentiment. This optimism follows the success of Bitcoin products and increased institutional interest. On January 1, VanEck's Head of Research, Matthew Sigel, highlighted that community expectations for SOL ETFs were undervalued. Polymarket users predicted a 77% chance of approval, which rose to 85% after Sigel's comments. The bullish sentiment is driven by expectations that Solana could follow Bitcoin and Ethereum into mainstream markets through ETFs. VanEck filed a spot Solana ETF application in June 2024, despite the SEC's view of Solana as a security. Optimism is further fueled by Donald Trump's election win and his pro-crypto stance, which is expected to lead to favorable regulations. Solana's market value has surged, trading at $220 with a market cap over $106 billion.

Wealth investment firm VanEck has reiterated its belief in a spot Solana (SOL) ETF approval. This underscores similar commitment and optimism expressed by the community regarding multiple applications. The success of Bitcoin products last year led to community rallies around altcoin products, which led to wider price projections this year.VanEck Backs Community AnticipationOn Jan 1, Matthew Sigel, VanEck’s Head of Research,notedthat increased community expectations of spot SOL ETFs were underpriced. On Dec 31, digital asset prediction platform Polymarket users tipped a 77% chance of Solana ETF approval in 2025. This comes after renewed institutional interest and easing regulatory concerns.Reacting to the post on X (formerly Twitter), Sigel described the figure as underpriced, hinting at a higher chance of approval. Several crypto executives share this sentiment after Donald Trump’s win at the November polls and subsequent nominations. However, the odds have jumped to 85% since Sigel’s comments, showing a higher chance of success.“Polymarket bettors are now giving an 85% chance that the SEC will approve a spot Solana ETF by the end of 2025, marking a 35% surge in optimism over the last few days. What’s driving this bullish sentiment? Growing expectations that $SOL could follow in the footsteps of $BTC and $ETH, carving its path into mainstream markets through ETFs,”Blockmandevwrote on X.In June 2024, VanEck filed a spot Solana ETF application, although the Securities and Exchange Commission (SEC)hintedat the asset being a security rather than a commodity. However, many users hinted at better regulations this year.Donald Trump Return Fuels OptimismIn the run-up to the US elections, Trump pledged positive crypto laws with a vision to position the country as the global Bitcoin hub. This attracted several enthusiasts with a massive interest in the elections. Trump’s win in November saw a huge spike in Bitcoin and altcoin prices as stakeholders pointed to easing regulations.This ease is expected to push spot Solana ETFs and other products alongside increased decentralized finance (DeFi) activities. The Trump Presidency is expected to shift from Joe Biden’s harsh policy approach to the sector. With anticipatedpro-market regulations, market forces have flipped green, with SOL making huge gains in the last three months.At press time, Solana traded at $220, taking its market capitalization above $106 billion. In another development, Trump’s Scott Bessent nomination as Treasury Secretary also ignited hopes for a positive crypto policy.

VanEck Optimistic About Solana ETF Approval by 2025 Amid Pro-Crypto Sentiment