Crypto community speculates “Solana” is going to be the next Crypto ETF 

The majority of the Crypto proponents claimed that Solana will be the next Crypto ETF product, following the approval of ETH spot ETF applications.

Currently, Bitcoin spot ETF products are in existence in the US jurisdiction, while ETF products corresponding to Ethereum & Bitcoin exist in the Hong Kong crypto market. These days, the Ethereum spot ETF applications are waiting for regulatory approval from the United States Securities and Exchange Commission (SEC). 

On 22 May 2024, Popular Crypto investor and CNBC ‘Fast Money’ trader Brian Kelly started the discussion of Solana as the next Crypto ETF product.

Kelly made this prediction during the CNBC post-market talk show Fast Money, where they were talking about the SEC & probability of ETH spot ETF applications approval.

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Oh weird @cnbc says $SOL is the next ETF.

Hmm, where have I heard that before… pic.twitter.com/aYAedMhcM0

— ◢ J◎e McCann (@joemccann) May 22, 2024

Kelly said :

“You’ve got to think about Solana as probably the next one. Bitcoin, Ethereum and Solana are probably the big three for this cycle.”

Bloomberg ETF analyst James Seyffart also shared his opinion on this matter and said that such things will take time to happen in reality but he also said that such things may happen more quickly if Congress & Market structure bills like FIT21 would pass quickly. 

James also said that Solana spot ETF will attract more investors than any other crypto spot ETF product.

Based on current precedent/needs — Will happen within a few years of getting a CFTC regulated futures market. But congress & Market structure bills like FIT21 could make it happen quicker.

I think a SOL ETF would see most demand vs other digital assets (aside from BTC & ETH)

— James Seyffart (@JSeyff) May 22, 2024

Furthermore Bloomberg ETF expert also said that already the legal status of Solana is security under the purview of the SEC body, as seen in the majority of the SEC’s lawsuits against top American crypto companies. So there are many things about which we should think clearly, before eliminating discussion around Ethereum. 

In a contrary opinion, Cinneamhain Ventures partner Adam Cochran said that Litecoin (LTC) or Dogecoin (DOGE)  will be the next Crypto spot ETF product.

I think you get LTC and DOGE first.

Much lower demand, but cleaner paths.

— Adam Cochran (adamscochran.eth) (@adamscochran) May 22, 2024

Read also: MetaMask to add support for Bitcoin native blockchain network 

Crypto community speculates “Solana” is going to be the next Crypto ETF 

 

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