Greg King Says Solana Could Lead Stablecoins as ETF Issuers May Need to Pick Tokens Carefully

• Solana ETF momentum

• REX CEO Greg King recommends selective token inclusion and highlights staking rewards as an ETF differentiator.

• Nine issuers currently filed for spot Solana ETFs; memecoin ETF filings are also pending.

Solana ETF: Greg King backs Solana for stablecoins and urges careful ETF token selection — read expert insight and next steps now.

REX Financial CEO Greg King says the crypto market gets dicey “below the top 10” and ETF issuers should carefully choose what tokens to turn into funds.

Issuers of crypto exchange-traded funds should carefully consider which cryptocurrencies to offer exposure to in their funds, as most of the crypto market is “pretty sketchy,” says REX Financial CEO Greg King.

“Crypto gets pretty sketchy below the top 10, certainly below the top 20,” King told Bloomberg’s ETF IQ on Monday.

“There’s some significant picking and choosing that has to happen by issuers there,” he added.

King added that he didn’t think there would be “a huge explosion” in ETF filings for various cryptocurrencies but predicted “a lot of funds per coin.”

ETF issuers have rushed to get approval for a host of crypto funds after the success of spot Bitcoin (BTC) ETFs, and as the Securities and Exchange Commission under President Donald Trump has taken a friendlier tone with the sector.

REX is waiting for approvals for ETFs tied to memecoins — cryptocurrencies with no intrinsic value — which would track Bonk (BONK), Trump’s token Official Trump (TRUMP), and Dogecoin (DOGE), which is currently the tenth largest cryptocurrency by market value.

What did Greg King say about Solana and stablecoins?

Greg King argued that Solana is faster and better suited for high-throughput stablecoin use cases than Ethereum and called Solana “the story” for the future of stablecoins. He noted Solana’s staking rewards and processing speeds as key ETF and portfolio attributes.

How did REX Financial implement Solana exposure?

In early July, REX Financial launched a Solana (SOL) ETF that included exposure to staking rewards. King emphasized staking as a differentiator: staking rewards can improve long-term yield profiles for ETFs that include proof-of-stake assets.

King said Solana is “faster and more designed for high processing speed,” and that it has been overlooked as a blockchain for stablecoins, which have been concentrated on Ethereum.

REX Financial CEO Greg King believes Solana is the story of stablecoin’s future over Ethereum. He spoke with @EricBalchunas on “ETF IQ”. (Tweet content preserved as plain text.)

— Bloomberg TV (BloombergTV) August 25, 2025

How should issuers choose cryptocurrencies for ETFs?

Issuers must prioritize top-tier tokens and avoid lower-cap assets that lack liquidity, governance clarity, and regulatory pedigree. Strong candidates show established market cap, active on-chain usage, clear staking mechanics, and robust validator ecosystems.

1. Liquidity and market cap: Favor top 10–20 assets for tradability and custody confidence.
2. Protocol fundamentals: Evaluate staking, throughput, and decentralization metrics.
3. Regulatory clarity: Assess legal exposure and compliance history.
4. Custody and security: Ensure reputable custody solutions and proven security track records.

Why expect multiple funds per coin?

King noted the pattern seen with Bitcoin and Ethereum — multiple issuers launching similar spot ETFs — and expects the same for Solana. Competition drives product variety: differing fee structures, staking inclusion, or index methodologies produce several funds tied to the same underlying token.

There are currently nine issuers that have filed to launch a spot Solana ETF: VanEck, Bitwise, Grayscale, 21Shares, CoinShares, Canary Capital, Franklin Templeton, Fidelity Investments, and a joint fund by Invesco and Galaxy Digital.

Frequently Asked Questions

Will Solana ETFs be approved by the SEC?

Analysts and prediction markets indicate a high probability of approval by October 2025, given recent regulatory tone shifts and precedent set by prior spot crypto ETF approvals. Approval timelines remain subject to SEC review and comment periods.

Are memecoin ETFs likely to be launched?

REX Financial has filings for memecoin ETFs tracking BONK, TRUMP, and DOGE. Greg King warned issuers to exercise caution; memecoins carry elevated volatility and limited intrinsic utility, which increases risk for retail ETF exposure.

Key Takeaways

• Solana momentum: Solana is a strong candidate for spot ETFs and stablecoin infrastructure.
• Cautious selection: Issuers should avoid low-cap tokens and prioritize liquidity, security, and regulatory clarity.
• Multiple funds per coin: Expect several ETF providers to launch competing Solana funds with differing features.

Conclusion

REX Financial CEO Greg King’s commentary underscores two concurrent trends: growing institutional interest in spot Solana ETFs and the need for disciplined token selection by issuers. Market participants should monitor filings, staking economics, and SEC developments as approvals approach. For investors and issuers, the priority remains robust due diligence and clear disclosure.

Publication date: 2025-08-26 — Author: COINOTAG