Matthew Sigel, head of research at VanEck, said the forecast was "understated" after Polymarket, a cryptocurrency forecasting platform, said there was a 77 per cent chance of a US Solana ETF listing in 2025. In June 2024, VanEck and rival asset manager 21Shares sought permission from US regulators to list the spot Solana ETF. Shortly after Mr. Trump's victory in the US presidential election in November, Matthew Sigel said the chances of US approval of the SOL ETF in 2025 were "extremely high".