- Discussions about SOL ETF arise amid the ongoing Ethereum ETF debates.
- Expert insights indicate a possible endorsement of SOL ETFs.
Amid divided opinions on Ethereum’s adoption [ETH] spot exchange-traded funds (ETFs), another interesting debate has arisen around the possibility of Solana [SOL] ETFs.
Pointing to Likelihood of ETH ETF Approval Soon, CNBC ‘Fast Money’ Trader Says Brian Kelly led to discussion about X, with SOL being proposed as the potential next cryptocurrency for a spot ETF in the United States. Speaking to CNBC he said:
“I think you should probably consider Solana next, right? I mean Bitcoin, Ethereum and Solana are probably the big three for this cycle.”
A day earlier, Matrixport co-founder Daniel Yan hinted at the same idea in his May 21 post on X. He noted:
Source: Daniel Yan/X
Optimistic comments
Compounding the battle was James Seyffart, ETF Research Analyst at Bloomberg Intelligence, who said:
Source: James Seyffart/X
However, if we look at the downside, Seyffart also has one warningThis highlights that despite the optimism about Solana’s ETF potential, the SEC’s approach to Solana differs from that of Ethereum. He claimed,
“But SEC is not dancing around SOL’s status as if they have ETH. Those lawsuits against COIN and Kraken and others flat out say “Solana is a security” lol. Which could very easily make this a rocky road.”,
Joining the conversation was Nate Geraci, president of ETFStore, who added:
“No sol ETF until CME-traded sol futures exist or Congress enacts a legitimate crypto regulatory framework… Crypto ETF affiliation is off for a while after approval of spot eth ETF… IMO.”
The debate continued as ‘The Bitcoin Therapist’ added even more criticism to the discussion.
“CNBC is already talking about a Solana ETF. This is the problem with including ETH in the spot ETF game. They opened Pandora’s box of shitcoins. It looks like we’re about to get the free market casino everyone has been begging for. I stand by it #Bitcoin.”
Solana vs Ethereum
Amid the recent developments in the ETF debate, at the time of writing, SOL’s price had fallen 3% over the past 24 hours. At the same time, ETH flashed green.
Drawing a parallel between the two major altcoins, ‘The Wolf of All Streets’a pseudonymous crypto investor, analyzed:
Source: