The Potential Launch of a Solana ETF in the US
A recent discussion on CNBC’s Fast Money show has raised the question of whether a spot Solana ETF (exchange-traded fund) could be the next to launch in the US. Crypto expert Brian Kelly, founder of BKCM, highlighted Solana as a potential candidate for the next ETF launch, alongside Bitcoin and Ethereum, which are considered the big three for the current market cycle.
– Brian Kelly predicts Solana as the next likely candidate for a US-based spot ETF launch.
– Bitcoin, Ethereum, and Solana are identified as the top three assets in the current market cycle.
The Crypto Community’s Concerns
Despite the positive outlook, the crypto community has expressed concerns about the potential approval of a spot SOL ETF. Bloomberg ETF analyst James Seyffart pointed out that the SEC has previously classified Solana as a security in legal cases against major platforms like Coinbase and Kraken, implying a challenging road ahead for a Solana ETF approval.
– James Seyffart highlights SEC’s previous classification of Solana as a security in legal cases.
– The absence of a futures product for Solana in the US may further delay the launch of a Solana ETF.
Predictions for the Future of Solana ETFs
While opinions differ on the timeline for a possible Solana ETF launch, there is a consensus among experts that it may face obstacles in the approval process. However, many believe that a Solana ETF would generate significant demand once launched, despite the potential challenges ahead.
– Speculations suggest that a Solana ETF may take a few years to materialize.
– Despite hurdles, the launch of a Solana ETF is expected to attract considerable interest in the market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
