Sygnum Bank's Katalin Tischhauser believes Solana and other altcoin ETFs face significant approval and demand hurdles, despite differing views from VanEck.
Katalin Tischhauser, head of investment research at Sygnum Bank, has expressed skepticism about the approval and demand for Solana and other altcoin spot ETFs in the U.S. This perspective aligns with other commentators, though VanEck remains optimistic about the future of altcoin ETFs.
Key Points:
Approval Challenges: The primary obstacle to approving altcoin ETFs is the SEC's requirement for regulated market surveillance. Current crypto exchanges are viewed as “unregulated securities exchanges.”
Demand Issues: Tischhauser suggests that even if approved, altcoin ETFs may not attract significant demand. Bitcoin and Ethereum enjoy high name recognition, while other altcoins like Solana do not.
Market Sentiment: Despite the high premium on Grayscale’s Solana Trust, its assets under management are much smaller than Bitcoin and Ethereum trusts, indicating limited overall interest.
VanEck's Optimism: Contrary to Sygnum Bank’s view, VanEck’s head of digital assets research believes there is potential for a variety of crypto ETFs in the U.S., similar to Europe.
The future of Solana and other altcoin ETFs in the U.S. is uncertain. While Sygnum Bank highlights significant approval and demand challenges, VanEck remains hopeful about expanding the crypto ETF market.
Source: Cointelegraph
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