The potential approval of a spot Solana (SOL) ETF by the end of 2025 could be a significant benefit for the cryptocurrency. Matt Sigel, head of digital asset research at VanEck, believes that under the leadership of SEC Chairman Gary Gensler, the agency has moved towards a disclosure-based system, which creates new opportunities for the crypto industry. VanEck filed for a Solana ETF in June 2024 and Sigel expects the new administration to be supportive of the crypto industry and promote investments in digital assets. However, the SEC's previous chairman rejected applications for spot Bitcoin ETFs. Hedge fund co-founder Daniel Cheung predicts that Solana ETFs could hit the market as early as Q1 2025, potentially propelling Solana's growth rate above Ethereum and reaching the $1,000 mark. Solana has recently seen a significant increase in market capitalization and user activity in meme coins, driven by inflationary token issuance and a surge in meme coin interest.



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