- Brian Kelly predicts Solana as the subsequent doable crypto spot ETF.
- Solana ETF approval faces regulatory hurdles, specialists say.
- Some specialists favor Litecoin or Dogecoin for the subsequent ETF due to their less complicated mechanics.
Crypto investor Brian Kelly has steered that Solana (SOL) may very well be the subsequent cryptocurrency to safe a spot exchange-traded fund (ETF) within the US, following the SEC's anticipated ruling on the spot Ether ETF.
Kelly, who can be CEO of the BKCM Digital Asset Fund, believes Solana is likely one of the “massive three” cash alongside Bitcoin and Ethereum. Nevertheless, some trade analysts disagree.
Approval of the spot Solana ETF is contingent on the futures product being listed on the Chicago Mercantile Trade (CME) or the creation of a transparent regulatory framework by Congress. At present, solely Bitcoin and Ether futures have been accepted.
Even when accepted, specialists imagine there could be vital demand for the Solana ETF, doubtlessly surpassing all different digital belongings besides bitcoin and ether. Nevertheless, the SEC's classification of Solano as a safety in previous lawsuits might current issues.
Others like Cinneamhain Ventures' Adam Cochran imagine that Litecoin or Dogecoin may very well be subsequent as a consequence of a “cleaner path” with Bitcoin-like proof-of-work mechanisms.
Whereas few ETF issuers have talked concerning the Solana ETF, Franklin Templeton's latest reward for Solana has sparked hypothesis. Moreover, Bitwise's Matt Hougan referred to as Solana the “crypto asset of 2024” as a consequence of its institutional potential.
Market analysts who predicted that Solana (SOL) will outperform Ether (ETH) within the upcoming bull run are dealing with a actuality verify as ETH makes a powerful run. On Monday, Ether (ETH) posted positive aspects of over 19%, boosting its market cap by a big $70 billion. This improve brings the whole ETH market cap to $439 billion, closing the hole with Solana's whole market cap.
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