Could Solana be next in line for a spot ETF after Ethereum?

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

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

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

“ I believe you’ve gotta take into consideration Solana as most likely the following one, proper? I imply Bitcoin, Ethereum, and Solana are most likely the large three for this cycle.” 

In reality, only a day prior, Daniel Yan, co-founder of Matrixport, hinted on the similar concept in his Might twenty first submit on X. He noticed,

Daniel Yan's tweet on SOL ETF

Supply: Daniel Yan/X

Optimistic remarks

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

James Seyffart's tweet on SOL ETF

Supply: James Seyffart/X

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

“However SEC isn’t dancing round SOL’s standing like they’ve ETH. These lawsuits in opposition to COIN and Kraken and others flat out say “Solana is a safety” lol. Which may very simply make this a really rocky street.”, 

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

“No sol ETF till both CME-traded sol futures exist or Congress places legit crypto regulatory framework in place…Crypto ETF spigot turned off for some time after spot eth ETF approval… IMO.” 

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

“CNBC is already speaking a few Solana ETF. That is the issue with together with ETH into the spot ETF recreation. They’ve opened Pandora’s field of shitcoins. Appears to be like like we’re about to have the free market on line casino everybody’s begged for. I’ll keep on with #Bitcoin.”

Solana vs. Ethereum

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

See also  Ethereum price falls as regulatory worries and pause in DApp use impact investor sentiment

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



Earlier: Ethereum may take ‘months to be deflationary’ – What about ETH’s bull run?
Subsequent: US CBDC, FIT21 crypto payments: ‘A lip service’ or balanced regulation?

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