'Good Chance Crypto Voters Will Make The Difference In This Election,' Matthew Sigel Says
Portfolio Pulse from Murtuza Merchant
Matthew Sigel, VanEck’s Head of Digital Assets Research, stated that cryptocurrency voters could influence the upcoming U.S. presidential election. He noted a shift in the regulatory environment with more Democrats supporting pro-crypto legislation. Sigel emphasized the importance of regulatory treatment of Ethereum and Solana, and criticized SEC Chair Gary Gensler's approach. He expressed optimism for the approval of digital asset ETFs with a slight regulatory shift.
July 03, 2024 | 1:57 pm
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POSITIVE IMPACT
Matthew Sigel emphasized the importance of regulatory treatment for Ethereum, suggesting that if Ethereum-based products are permitted to trade, it would confirm Ethereum’s status as a commodity.
Sigel's comments suggest a positive regulatory outlook for Ethereum, which could boost investor confidence and drive up its price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Sigel pointed out the lack of a regulated futures market for Solana, which might be hindering ETF approvals. He expressed optimism that a slight regulatory shift could lead to approval for digital asset ETFs, including Solana.
Sigel's optimism about regulatory shifts could lead to positive sentiment and potential price increases for Solana.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
VanEck's extensive research and belief in Solana’s potential to capture the largest market share in the blockchain space were highlighted. Sigel also mentioned ongoing SEC filings for Ethereum ETFs and urged the SEC to adhere to its traditional approval process.
VanEck's proactive stance and research could enhance its reputation and attract more investors, potentially boosting its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60