Samson Mow Urges Last Chance to Sell ETH, Coinbase Introduces Shiba Inu (SHIB) Perpetual Futures, Solana (SOL) Eyed as Next Crypto ETF: U.Today Crypto News Digest

<ul>
  <li>Cryptocurrency markets are abuzz with significant developments, from ETF approvals to new futures listings.</li>
  <li>These changes are poised to impact various crypto assets, including Bitcoin, Ethereum, and meme coins like Shiba Inu.</li>
  <li>Industry experts provide insights and predictions on the future trajectory of these assets.</li>
</ul>
<p><strong>Stay updated with the latest in cryptocurrency news, including ETF approvals, new futures listings, and expert predictions.</strong></p>
<h2><strong>"$1 million Bitcoin" advocate Samson Mow reveals last chance to sell ETH</strong></h2>
<p>Upon the approaching deadline for the SEC's decision on spot Ethereum ETF approval, Samson Mow, CEO at Jan3 and prominent Bitcoin maximalist, has poured cold water on Ethereum-based ETFs. In Mow's view, the potential approval of Ethereum funds by the regulatory agency is not bullish, as they will "massively underperform" Bitcoin-based ETFs. To prove himself right, Mow advised comparing demand for both BTC and ETH on other markets, while also taking into account the fact that Ethereum will not give staking rewards. "This is the last chance to sell ETH above 0.05 BTC," wrote the CEO at the conclusion of his post. Meanwhile, VC investor Anthony Pompliano called the potential approval of Ethereum ETFs by the SEC “the last dam to be broken” before the U.S. approves the entire crypto industry.</p>
<h3><strong>Market Reactions and Expert Opinions</strong></h3>
<p>The crypto community has been divided over the potential approval of Ethereum ETFs. While some see it as a significant milestone, others, like Mow, remain skeptical. The comparison between Bitcoin and Ethereum ETFs has become a focal point, with many analysts predicting that Bitcoin will continue to dominate due to its established market presence and broader acceptance. Additionally, the lack of staking rewards for Ethereum ETFs could deter investors seeking passive income opportunities.</p>
<h2><strong>Perpetual futures for Shiba Inu (SHIB) and other meme coins added by Coinbase</strong></h2>
<p>According to the official announcement from May 23, Coinbase International Exchange has added support for Shiba Inu perpetual futures on Coinbase International Exchange and Coinbase Advanced. Apart from SHIB, two more meme coins, BONK and FLOKI, will also get their perpetual futures listed, to the great delight of the assets' communities. The opening of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets is expected to begin on or after 9:30 a.m. UTC May 30, 2024. Other perpetual futures offered by the exchange include such assets as Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Bitcoin Cash (BCH), and Pepe (PEPE). As a reminder, Coinbase's offshore derivatives exchange opened last May. In September, Coinbase got regulatory approval to offer its futures to users outside the U.S.</p>
<h3><strong>Implications for Meme Coin Markets</strong></h3>
<p>The addition of perpetual futures for meme coins like Shiba Inu, BONK, and FLOKI marks a significant development for these assets. It provides traders with more tools to hedge their positions and speculate on price movements. The move is expected to increase liquidity and trading volume for these meme coins, which have garnered substantial attention from retail investors. Coinbase's decision to expand its futures offerings also underscores the growing acceptance and maturity of the crypto derivatives market.</p>
<h2><strong>Brian Kelly predicts Solana could be next crypto ETF</strong></h2>
<p>During his recent appearance on CNBC, Brian Kelly, founder and CEO of BKCM LLC, shared his opinion regarding the approval of Ethereum ETFs. Even though Kelly does not know when exactly the Ethereum ETF is going to be greenlit by the SEC, he is certain that it will happen at some point in time. When asked about what crypto could be the next to get its ETF, Kelly replied, "You've got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle." However, the Solana ETF approval process could be complicated by SOL token's legal status in the U.S; as a reminder, last year, the SEC named SOL a security in its lawsuits against Coinbase and Binance. The Solana Foundation strongly rejected this claim, stating that the blockchain is decentralized. Additionally, Solana does not have its futures-based ETF in the U.S.</p>
<h3><strong>Challenges and Opportunities for Solana</strong></h3>
<p>The potential approval of a Solana ETF could significantly boost the asset's market presence and investor confidence. However, regulatory challenges remain a significant hurdle. The SEC's classification of SOL as a security could complicate the approval process and deter institutional investors. Despite these challenges, Solana's strong technical fundamentals and growing ecosystem make it a promising candidate for future ETF listings. Investors and market participants will be closely watching regulatory developments and the SEC's stance on Solana.</p>
<h3><strong>Conclusion</strong></h3>
<p>The cryptocurrency market continues to evolve with significant developments such as ETF approvals and new futures listings. While Bitcoin and Ethereum remain dominant, assets like Shiba Inu and Solana are making strides. Investors should stay informed about regulatory changes and market trends to navigate this dynamic landscape effectively. The future of crypto assets looks promising, but it is essential to approach investments with a well-informed strategy and an understanding of the associated risks.</p>