LIVEWHICH PROJECT WILL HAVE THE NEXT ETF?
BKCM CEO Brian Kelly made headlines when he suggested on CNBC that a certain digital asset could be the next cryptocurrency to have an exchange-traded fund (ETF).
Speculation on a Potential Solana ETF Amid Market Uncertainty
The announcement reignited controversy in the financial community, especially after similar speculation emerged in Hong Kong earlier this year, suggesting that an issuer may be preparing a SOL ETF.
However, Kelly acknowledged some of the obstacles that could prevent the launch of a Solana ETF. Unlike Bitcoin (BTC) and Ethereum (ETH), Solana does not currently have a futures ETF, a factor that simplifies the process for regulators and issuers.
In addition, the US Securities and Exchange Commission (SEC) classified Solana as a security, further complicating the path to becoming an ETF.
Despite these challenges, the potential for a Solana ETF continues to resonate. Known for its high trading speeds and low costs, Solana has gained significant traction within the crypto community.
The crypto market is keenly watching developments on this front, as the successful launch of a Solana ETF could signal a new phase of growth and adoption for alternative cryptocurrencies beyond Bitcoin and Ethereum.
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