- Solana ETF speculation rises amid the discussions surrounding Ethereum’s approval.
- Experts suggest possible approval of Solana ETFs following Ethereum’s potential approval.
- Noteworthy insights from industry experts highlight the growing interest in Solana ETFs.
Speculation around Solana ETFs grows as Ethereum nears potential approval, with experts weighing in on the future of crypto ETFs.
Solana ETF Discussions Amid Ethereum ETF Debates
Amidst divided opinions on the approval of Ethereum [ETH] spot exchange-traded funds (ETFs), another interesting debate has emerged around the possibility of Solana [SOL] ETFs. Hinting at the likelihood of ETH ETF approval soon, CNBC ‘Fast Money’ trader Brian Kelly sparked debate on X, suggesting SOL as the potential next cryptocurrency for a spot ETF in the United States. In a conversation with CNBC, he said, “I think you’ve gotta think about Solana as probably the next one, right? I mean Bitcoin, Ethereum, and Solana are probably the big three for this cycle.”
Expert Insights on Solana ETF Potential
Just a day prior, Daniel Yan, co-founder of Matrixport, hinted at the same idea in his May 21st post on X. He observed, “Solana’s potential for an ETF is gaining traction among industry insiders.” Adding to the fray was James Seyffart, ETF Research Analyst at Bloomberg Intelligence, who said, “While there is optimism about Solana’s ETF potential, the SEC’s approach to Solana differs from Ethereum’s. Those lawsuits against COIN and Kraken and others flat out say ‘Solana is a security,’ which could make this a very rocky road.”
Market Reactions and Regulatory Challenges
Nate Geraci, president of ETFStore, added, “No Solana ETF until either CME-traded Sol futures exist or Congress puts legit crypto regulatory framework in place. Crypto ETF spigot turned off for a while after spot ETH ETF approval.” The debate continued as ‘The Bitcoin Therapist’ added further criticism, “CNBC is already talking about a Solana ETF. This is the problem with including ETH into the spot ETF game. They’ve opened Pandora’s box of altcoins. Looks like we’re about to have the free market casino everyone’s begged for. I’ll stick to Bitcoin.”
Conclusion
In conclusion, while the discussions around Solana ETFs are gaining momentum, the path to approval is fraught with regulatory challenges and market skepticism. As the crypto community awaits the SEC’s decision on Ethereum ETFs, the future of Solana ETFs remains uncertain. However, the growing interest and expert insights suggest that Solana could be a significant player in the next wave of cryptocurrency ETFs.
