Key Points
- Discussion about the potential approval of Solana (SOL) ETFs is gaining traction.
- Experts are also debating the likelihood of Ethereum (ETH) spot exchange-traded funds (ETFs) approval.
The approval of Ethereum (ETH) spot exchange-traded funds (ETFs) is a hot topic among experts, with opinions divided.
Simultaneously, the potential for Solana (SOL) ETFs is sparking conversation.
Speculation on SOL ETFs
CNBC ‘Fast Money’ trader Brian Kelly has suggested that SOL could be the next cryptocurrency for a spot ETF in the United States.
He stated that Bitcoin, Ethereum, and Solana are likely the major players for this cycle.
Daniel Yan, co-founder of Matrixport, echoed this sentiment in a recent post.
SEC’s Approach to SOL
James Seyffart, ETF Research Analyst at Bloomberg Intelligence, issued a cautionary note regarding SOL’s ETF potential.
He pointed out that the SEC’s approach to Solana differs from Ethereum’s, indicating that the road to approval could be challenging.
Nate Geraci, president of ETFStore, shared similar views, stating that a SOL ETF will not materialize until either CME-traded SOL futures exist or Congress establishes a legitimate crypto regulatory framework.
‘The Bitcoin Therapist’ added criticism to the discussion, expressing concern about the implications of including ETH in the spot ETF game.
Despite the ongoing debate, SOL’s price was down 3% over the last 24 hours, while ETH was flashing green.
A pseudonymous crypto investor, known as ‘The Wolf Of All Streets’, analyzed the situation between the two major altcoins.
