Bloomberg ETF analyst James Seifert hinted at a possible timeline for the launch of a Solana-based spot exchange-traded fund (ETF).

Seifert hinted that the Solana ETF could possibly be delayed, regardless of heightened expectations inside the crypto neighborhood following the current controversy surrounding the Spot Ethereum ETF.

CFTC regulated futures market

Bloomberg ETF specialists defined that the Solana ETF's timeline might span a number of years, relying on the U.S. regulatory atmosphere. He stated:

“Primarily based on present precedent and want, we’ll possible see it inside just a few years of getting a CFTC-regulated futures market. However Congress (and) market structuring payments like FIT21 might make it occur sooner.”

He additionally famous that the Solana ETF is assessed as a safety by the Securities and Change Fee (SEC) and will subsequently face delays. Not like Ethereum, the SEC particularly classifies Solana as a safety in its lawsuit towards Coinbase and Kraken. Seifert added:

“Nevertheless, the SEC shouldn’t be tossing round SOL standing like ETH. Lawsuits towards COIN, Kraken, and others clearly argue that Solana is a safety. ”

Regardless of these challenges, Seifert believes a Solana-based ETF is prone to entice extra demand than different altcoin ETFs.

Consultants Talk about the Solana ETF

Seifert's feedback come because the neighborhood requires a Solana ETF.

On a current CNBC present, Brian Kelly, CEO of digital foreign money funding agency BKCM, recommended that Solana could possibly be the following crypto-based spot ETF to debut within the US.

Kelly additional famous that the SEC's approval of a spot Ethereum ETF might present readability to the market and pave the way in which for the launch of different crypto-based ETFs.

Nevertheless, Nate Geraci, president of ETF Retailer, believes a spot Solana ETF received't materialize till Solana futures merchandise are traded on the Chicago Mercantile Change or U.S. lawmakers set up clear cryptocurrency rules. ing. he added:

“After the spot approval of the Ethereum ETF, the spigot for crypto ETFs was turned off for some time.”

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(Tag Translation) Solana