The recent approval of spot Solana ETF products in Brazil has triggered a reaction from Matthew Sigel, VanEck’s Head of Research. He strongly believes that the United States regulators are focused on less important subjects, which has caused the South American country to overtake it in this regard.
Brazil Beats the US to Spot Solana ETF Approval
Brazil approved spot Solana ETF on Wednesday, making it the first nation to support such an offering.
The SOL ETF move by Brazil regulator prompted experts to speculate that the United States may borrow a leaf and approve the filed applications for the offering. However, Sigel stated that he is embarrassed by the fact that Brazil greenlighted this offering before the US. He made a statement which suggested that the US Securities and Exchange Commission (SEC) is more focused on cracking down of crypto endeavors than supporting it.
“This admin is winning lawsuits against Big Tech for antitrust, but won’t allow open source alternatives to th
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