James Seyffart is an exchange-traded (ETF), Bloomberg analyst. He believes there would be greater demand for a Solana (SOL) ETF than funds that track other altcoins except Ether (ETH).
Seyffart’s statements was not in response Brian Kelly is a CNBC Fast Money trader, crypto-investor and he appears in this video. said Solana’s ETFs followed the United States Securities and Exchange Commission in approving Ethereum ETFs.
Solana ETF Sees Heavy 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 hyping up the SEC decision regarding the VanEck Ethereum ETF proposal. This has a definitive final date. deadline Even if ETH is May 23. Even ETH caught The hype has been a success this week. rallying The last 7 days have seen a 28% increase in sales.
Analysts have started a discussion about the next cryptocurrency to appear on the ETF list.
Seyffart claimed that a Solana ETF might be released within a few short years after a futures markets is regulated by Commodity Futures Trading Commission. Congress, however, and separate crypto market structure legislation like the FIT21 The process could be accelerated.
“I think a SOL ETF would see most demand vs other digital assets (aside from BTC & ETH),” Bloomberg Analyst Tweeted
Solana’s ETFs are subject to certain conditions
Seyffart noted The SEC has not approved the launch of Solana ETFs. “dancing around” SOL’s status, like that of ETH, is similar to the status granted ETH. SOL was categorised as a securities in many lawsuits brought against popular exchanges, such Binance and Kraken.
Seyffart’s comments provoked different reactions among community members. Some agreed with Seyffart’s stance.
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 Litecoins and Dogecoins, despite having a lower demand, are more likely to get ETFs than Solana, because of their higher market share. “cleaner paths” No regulatory baggage.
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Source: cryptopotato.com
