Sol Strategies, a Canadian company that specializes in investment strategies, announced earlier this week its intention to invest CAD 25 million (17.4 millions) into the Solana ecosystem.
Leah Wald, CEO of Sol Strategies told me before the start of this year that the company was focusing on growing the business. “next level” The company’s strategy is a key part of the business.
Wald expressed her delight at the current level of interest and activity from developers in Solana.
But she’s a little hesitant about a solana ETF getting approved in the US “anytime soon.”
“I think there’s quite a while until a SOL ETF gets approved. During that time, as a former issuer, I know that you have a long time where you’re working with the staff and you’re working on education. That gives [potential issuers] a year…to educate the staff and make sure that everybody’s up to speed on what you know SOL actually is, and the merits and benefits, and provide…that additional timeline for maturity,” She explained.
She does believe that Canada will approve an SOL ETF by 3iQ, before we start seeing a lot of US products. This is because the Canadian issuer has a good track record. “always ahead of the US.”
Wald has a lot of experience and I was curious to know why Wald thinks that a regulator who is crypto-friendly would be reluctant to approve an ETF containing SOL. She said that part of her reason was due to the SEC’s changing leadership.
The new SEC Chairperson “came in and said, ‘okay, all crypto ETFs are approved overnight,’ I think that that’s dangerous, actually,” She said. She explained.
We’ll just have to stick with our crypto ETFs at home.
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