- SOL ETF discussions come up amid ongoing Ethereum ETF debates.
- Insights from consultants recommend attainable approval of SOL ETFs.
Amidst divided opinions on the approval of Ethereum [ETH] spot exchange-traded funds (ETFs), one other fascinating debate has emerged round the potential 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 mentioned,
“ I feel 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.”
Actually, only a day prior, Daniel Yan, co-founder of Matrixport, hinted on the identical concept in his Could twenty first submit on X. He noticed,
Supply: Daniel Yan/X
Optimistic remarks
Including to the fray was James Seyffart, ETF Analysis Analyst at Bloomberg Intelligence, who mentioned,
Supply: James Seyffart/X
Nevertheless, if we have a look at the flip aspect, 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 might very simply make this a really rocky highway.”,
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 talk continued as ‘The Bitcoin Therapist’ added additional criticism to the dialogue.
“CNBC is already speaking a couple of Solana ETF. That is the issue with together with ETH into the spot ETF sport. 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 stick with #Bitcoin.”
Solana vs. Ethereum
Amidst the latest developments within the ETF debate, SOL’s worth was down 3% over the past 24 hours at press time. On the identical time, ETH was flashing inexperienced.
Drawing a parallel between the 2 main altcoins, ‘The Wolf Of All Streets’, a pseudonymous crypto investor, analyzed,
Supply: X