đ„đ„đ„ Solana Spot ETF Unlikely, Yet Still Cryptoâs Top Hope
Will Solana Be the Next Crypto ETF?
- With #bitcoinâïž and #EthereumETFs approved in the U.S., speculation is growing about Solana's potential as the next ETF candidate. Brazil's recent approval of a Solana Spot ETF adds to the anticipation.
2024: A Breakthrough Year for Crypto ETFs
- In 2024, the U.S. SEC approved Bitcoin and Ethereum ETFs, marking a transformative year for crypto. Now, attention shifts to Solana, a decentralized proof-of-stake blockchain and the fifth-largest crypto by market cap.
Why Solana is a Strong Contender
- Solanaâs decentralized nature and similarity to Ethereum make it a viable ETF candidate. Brazilâs approval of two Solana ETFs adds credibility to its potential. However, challenges remain, including regulatory concerns and skepticism over whether Solana could outperform Ethereum's ETF, which has faced struggles.
Challenges and Future Outlook
- The SEC recently rejected a Solana ETF proposal, with analysts doubting approval in the near future. However, optimism remains for a Solana futures ETF, which faces fewer regulatory hurdles. As Congress works on broader crypto regulations, a futures ETF seems more likely than a Spot ETF by 2024.
Conclusion
Brazilâs Solana ETF approval has sparked hope, but U.S. approval remains distant. A Solana Spot ETF may not happen soon, but a futures ETF is a more realistic short-term possibility.
Source - beincrypto.com
