Cboe executive: Solana spot ETF is not feasible in the short term without futures market or regulatory clarity

ChainCatcher reported that according to CryptoSlate, Rob Marrocco, vice president of Cboe and global head of ETF listings, believes that crypto ETFs other than Bitcoin and Ethereum are unlikely to appear until the market and regulatory environment changes.

Marrocco said in the June 11 episode of the ETF Store podcast that market expectations for Solana and XRP spot ETFs are unrealistic in the short term because there are no futures markets for these cryptocurrencies, which was a major factor in approving Bitcoin and Ethereum spot ETFs.

He added that this means the only viable way to bring a Solana ETF to market is first through a Solana futures ETF, which would then pave the way for a spot ETF.

Marocco further stated that even if Solana futures ETFs are introduced, they will need to be traded for a long time to build a good track record. However, this process may take quite some time to bear fruit.