$SOL More ETFs are on the way, not just Solana. In the past month, crypto investment company Canary Capital has submitted spot ETF applications for three currencies, including XRP, Litecoin, and HBAR, to the US SEC. According to Nate Geraci, president of ETF Store, at least one issuer is currently trying to apply for ADA (Cardano) or AVAX (Avalanche) ETFs.

The market is still positive about the approval of SOL and XRP ETFs. James Seyffart, an authoritative Bloomberg ETF analyst in the ETF field, believes that the decision-making and approval timeline for SOL, XRP, LTC and HBAR ETFs may be extended to the end of 2025, and the SEC may approve Solana-related ETFs within two years. Nate Geraci, president of ETF Store, is more optimistic, saying that Solana ETF is likely to be approved by the end of next year.