Could SOL be the next ETF? – Report

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As the United States election approaches, multiple positive predictions are emerging for cryptocurrency, including Bitcoin and Ethereum prices, as well as the approval of various altcoin ETFs (Exchange Traded Funds). Recently, Brian Kelley, the founder & CEO of BKCM LLC, a digital currency investment firm, stated during a conversation with CNBC that after the approval of a spot Ethereum ETF, Solana could be the next cryptocurrency to have its own ETF.

This statement came in response to a question about which crypto might be the next to get an ETF and has garnered significant attention from both crypto investors and institutions. To date, the US SEC has approved two ETFs: Bitcoin and Ethereum. Only the Bitcoin ETF has been launched, while the crypto community eagerly awaits the launch of the Ethereum ETF following its recent approval.

However, SEC Chairman Gary Gensler has indicated that the Ethereum ETF will take some time to materialize. The US presidential election and potential political changes will play a crucial role, with the outcome potentially influencing the approval of more altcoin ETFs.

Institution views on ETFRecently, Ophelia Snyder, co-founder and president of 21.co, stated that despite the enthusiasm, the approval of an Ether ETF is unlikely to lead to a surge in new altcoin ETFs. Nevertheless, strong demand from institutional investors could prompt more filings.

CoinShares reported that hedge funds and wealth managers have notably increased their altcoin holdings, particularly in Solana.

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