According to Odaily, Ophelia Snyder, co-founder and president of 21.co, has stated that expectations for new altcoin ETFs should not be too high. She believes that the approval of an Ethereum ETF is unlikely to trigger a wave of approvals for other altcoin ETFs, such as Solana (SOL).
Despite this, Snyder revealed that there is significant interest in the European market for exchange-traded products (ETPs) related to Solana. The assets under management for these related products have already reached $990 million. Snyder's comments come at a time when the cryptocurrency market is seeing increased interest and investment in altcoins, with many investors looking for ways to diversify their portfolios beyond Bitcoin and Ethereum.
However, Snyder's cautionary note suggests that the regulatory landscape for altcoin ETFs may not be as favorable as some investors hope. This could potentially limit the options available for investors looking to gain exposure to the altcoin market through regulated investment products.