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Leah Wald, the CEO of Sol Strategies Inc., has expressed her concerns regarding the approval of a Solana ETF in the United States. She highlights significant regulatory challenges that may delay the process, especially with the changing leadership at the SEC.
Wald suggests that it could take a year or more to educate regulators on the unique aspects of Solana. In contrast, she points out that Canada might approve a Solana ETF before the U.S., citing the country’s history of leading in ETF innovations. She emphasizes this trend by mentioning the example of Canadian issuer 3iQ, which illustrates Canada’s consistent position at the forefront of crypto-related approvals.
Additionally, Wald discusses the potential implications of Paul Atkins possibly succeeding Gary Gensler as SEC Chair. While a change in leadership could create a more crypto-friendly atmosphere, she stresses the importance of approaching ETF approvals with caution. She advocates for a comprehensive understanding of the merits and risks associated with individual assets to ensure regulatory safety.