Solana: The Dark Horse in the Crypto ETF Race as Ethereum Surges
- Brian Kelly predicts Solana as next possible crypto spot ETF.
- Solana ETF approval faces regulatory hurdles, experts say.
- Some experts favor Litecoin or Dogecoin for the next ETF due to their simpler mechanisms.
Crypto investor Brian Kelly suggested Solana (SOL) could be the next cryptocurrency to secure a spot exchange-traded fund (ETF) in the US, following the SEC’s anticipated decision on a spot Ether ETF.
CNBC Guest believes $Sol will have the Next Spot ETF
— Joshua Jake (@itzjoshuajake) May 22, 2024pic.twitter.com/M79fSC6uJy
Kelly, who is also the CEO of BKCM Digital Asset Fund, believes Solana is one of the “big three” coins alongside Bitcoin and Ethereum. However, some industry analysts disagree.
Approval for a spot Solana ETF hinges on a futures product being listed on the Chicago Mercantile Exchange (CME) or the establishment of a clear regulatory framework from Congress. Currently, only Bitcoin and Ether futures have been approved.
Even if approved, experts believe there would be significant demand for a Solana ETF, potentially surpassing all other digital assets except Bitcoin and Ether. However, the SEC’s classification of Solana as a s…
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