James Seyffart, an analyst at Bloomberg for exchange-traded funds (ETFs), believes that a Solana fund would be more popular than other similar funds except ether.
Seyffarts’s claim was not true. response Brian Kelly is a CNBC Fast Money trader, crypto-investor and investor. said Solana ETFs was next Following the United States Securities and Exchange Commission’s (SEC) approval of Ethereum ETFs, the Ethereum ETF market is expected to grow.
Solana ETF is in High Demand
Bloomberg analysts among others, said that several experts believed the SEC would approve an Ethereum spot ETF within the next few months. increasing The odds are anywhere between 25% and 75%.
The crypto community has been anticipating and hyped about the SEC’s final decision regarding the VanEck Ethereum ETF proposal. deadline On May 23, Even ETH caught The hype has been a success this week. rallying In the past seven days, 28% of people have voted for different candidates.
Analysts have ignited a debate over which cryptocurrency to invest in. It is unclear when the SEC plans to approve spot Ethereum ETFs. next List of ETF Issuers
Seyffart claimed that a Solana ETF might be released within a few short years of the Commodity Futures Trading Commission regulating a market for futures. Congress has passed separate bills to regulate the crypto markets. FIT21 The process could be accelerated.
“I think a SOL ETF would see most demand vs other digital assets (aside from BTC & ETH),” The Bloomberg analyst Tweeted.
Solana’s ETFs are subject to certain conditions
Seyffart noted It is possible that the SEC will not approve the Solana ETFs. “dancing around” The status of SOL as the native token for the network, just like it was with ETH. SOL was categorised as a securities in several suits against popular exchanges, including Binance and Kraken.
Seyffart’s statements elicited different reactions in the community, and some members agreed with him.
Nate Geraci of The ETF Store agreed with Seyffart. saying: “No sol ETF until either CME-traded sol futures exist or Congress puts legit crypto regulatory framework in place. Crypto ETF spigot turned off for a while after spot eth ETF approval… IMO.”
Other community members think Litecoin and Dogecoin have a higher chance of obtaining ETFs prior to Solana despite the lower demand. “cleaner paths” No regulatory baggage.
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Source: cryptopotato.com