HomeBitcoinMight Solana be subsequent in line for a spot ETF after Ethereum?

Might Solana be subsequent in line for a spot ETF after Ethereum?

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  • SOL ETF discussions come up amid ongoing Ethereum ETF debates.
  • Insights from specialists recommend doable approval of SOL ETFs.

Amidst divided opinions on the approval of Ethereum [ETH] spot exchange-traded funds (ETFs), one other fascinating debate has emerged round the opportunity of Solana [SOL] ETFs.

Hinting on the probability of ETH ETF approval quickly, CNBC ‘Fast Money’ dealer Brian Kelly sparked debate on X, suggesting SOL because the potential subsequent cryptocurrency for a spot ETF in the US. In a dialog with CNBC, he mentioned, 

“ 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.” 

In truth, only a day prior, Daniel Yan, co-founder of Matrixport, hinted on the identical concept in his Might twenty first put up on X. He noticed,

Supply: Daniel Yan/X

Optimistic remarks

Including to the fray was James Seyffart, ETF Analysis Analyst at Bloomberg Intelligence, who mentioned,

James Seyffart's tweet on SOL ETF

Supply: James Seyffart/X

Nevertheless, if we have a look at the flip aspect, Seyffart additionally issued a cautionary observe, highlighting that regardless of the optimism about Solana’s ETF potential, the SEC’s method to Solana differs from Ethereum’s. He claimed, 

“But SEC isn’t dancing around SOL’s status like they have ETH. Those lawsuits against COIN and Kraken and others flat out say “Solana is a security” lol. Which may very simply make this a really rocky highway.”, 

Becoming a member of the dialog was Nate Geraci, president of ETFStore, who added, 

“No sol 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… IMO.” 

The controversy continued as ‘The Bitcoin Therapist’ added additional criticism to the dialogue.

“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 shitcoins. Looks like we’re about to have the free market casino everyone’s begged for. I’ll stick to #Bitcoin.”

Solana vs. Ethereum

Amidst the latest developments within the ETF debate, SOL’s value was down 3% over the past 24 hours at press time. On the identical time, ETH was flashing inexperienced.

Drawing a parallel between the 2 main altcoins, ‘The Wolf Of All Streets’,  a pseudonymous crypto investor, analyzed, 

The Wolf of All Streets on ETH vs SOL

Supply: X

 

 

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