- Brian Kelly predicts Solana as the following attainable cryptocurrency spot ETF.
- Approval of the Solana ETF faces regulatory hurdles, consultants say.
- Some consultants favor Litecoin or Dogecoin as the following ETF as a result of the mechanism is easier.
Crypto Investor Brian Kelly Says Solana (SOL) May Be the Subsequent Cryptocurrency to Safe a Spot Alternate Traded Fund (ETF) within the US Following Anticipated SEC Resolution on Spot Ether ETF steered that there’s.
Kelly, who can also be the CEO of BKCM Digital Asset Fund, considers Solana to be one of many “large three” cash together with Bitcoin and Ethereum. Nonetheless, some trade analysts disagree.
Approval of the spot Solana ETF relies on a futures product being listed on the Chicago Mercantile Alternate (CME) and a transparent regulatory framework being established by Congress. Presently, solely Bitcoin and Ethereum futures have been permitted.
Specialists imagine that even when permitted, the Solana ETF could be in large demand and will outperform all different digital belongings besides Bitcoin and Ether. However the SEC's classification of Solana as a safety in previous instances might pose an issue.
Others, like Adam Cochran of Cinneamhain Ventures, imagine Litecoin or Dogecoin may very well be subsequent due to their “cleaner path” with a proof-of-work mechanism much like Bitcoin.
Few ETF issuers have talked about the Solana ETF, however Franklin Templeton's latest reward for Solana has sparked hypothesis. Moreover, Bitwise’s Matt Hogan calls Solana the “crypto asset of 2024” as a result of its potential for institutional buyers.
Market analysts who had been predicting that Solana (SOL) would outperform Ether (ETH) within the upcoming bull market are going through actuality as ETH has seen a formidable surge. On Monday, Ether (ETH) rose greater than 19%, and its market cap elevated by a whopping $70 billion. This surge introduced ETH's market cap to his $439 billion, narrowing the hole with Solana's market cap.
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