In a recent appearance on CNBC's Fast Money program, Brian Kelly, CEO of BKCM investment company, suggested that if the U.S. Securities and Exchange Commission (SEC) approves spot exchange-traded funds for ether, then ETFs on Solana will be next in line. However, the catch is that there are currently no futures ETFs linked to SOL, whereas bitcoin and ether already have them.
"There is a possibility that Solana will take a place in the top three cryptocurrency exchange—traded funds after bitcoin and ether," Kelly said.
Bloomberg ETF analyst James Seyffart commented on his words on the social network X, writing that the US Commodity Futures Trading Commission (CFTC) could speed up this process by approving futures ETFs for SOL. A serious obstacle to the appearance of this investment product is also the fact that in lawsuits against the cryptocurrency exchanges Coinbase and Kraken, another regulator, the SEC, classifies SOL as a security. According to Seyffart, this may greatly delay the prospects of launching exchange-traded funds on Solana.
But SEC isn't dancing around SOL's status like 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 very rocky road
— James Seyffart (@JSeyff) May 22, 2024Bitwise Investment CEO Hunter Horsley believes that there is no need to launch separate ETFs for other altcoins right now. He explained that the Bitwise 10 Crypto index fund already provides investors with access to bitcoin, ether, SOL and other leading crypto assets.
Earlier, the co—founder of Matrixport, Daniel Yan, also expressed confidence that Solana is the next candidate for launching a spot exchange-traded fund, so he invited his subscribers to invest in it instead of ether.