- Bitcoin ETF applications have stirred significant interest among investors, leading to speculation about the approval of Ethereum ETF applications.
- Brian Kelly, a participant on the Fast Money program, speculated that Solana might be the next cryptocurrency to receive ETF approval in the U.S.
- Nate Geraci, president of The ETF Store, expressed skepticism about Solana’s ETF prospects, while Bloomberg ETF analyst James Seyffart suggested that Solana might see higher demand than other digital assets.
Discover the latest developments in the crypto world, including the potential for Solana ETF approval and its impact on the market.
Solana: The Next Big ETF Contender?
On May 22, during a Fast Money program, Brian Kelly, founder and CEO of BKCM Digital Asset Fund, predicted that Solana could be the next cryptocurrency to receive ETF approval in the U.S. Kelly emphasized that Solana, along with Bitcoin and Ethereum, forms the “big three” in the current crypto cycle. This speculation has generated considerable excitement within the crypto community.
Industry Experts Weigh In
Despite Kelly’s optimistic outlook, not everyone shares his enthusiasm. Nate Geraci, president of The ETF Store, argued that a spot Solana ETF is unlikely until Solana futures contracts start trading on CME or a clear legal precedent for crypto products is established in the U.S. Bloomberg ETF analyst James Seyffart concurred with Geraci but noted that a spot Solana ETF might attract more demand than other digital assets beyond Bitcoin and Ethereum.
Market Reaction and Investor Interest
Even though analysts remain cautious, the mere possibility of a Solana ETF has sparked interest among investors. Projects based on the Solana network, such as Dogeverse, Smog, and Sealana, have seen increased attention and momentum. These projects are gaining traction, with investors keen to capitalize on the potential growth of Solana-based tokens.
Conclusion
The speculation surrounding Solana’s potential ETF approval has undoubtedly stirred the crypto market. While industry experts remain divided on the likelihood of such an approval, the increased interest in Solana-based projects indicates a growing confidence in the network’s future. Investors should keep a close eye on regulatory developments and market trends to make informed decisions.
