Solana will be the next cryptocurrency for ETFs after Ethereum

According to Bloomberg analyst Eric Balchunas, after the launch of an Ethereum-based exchange-traded fund, a Solana-ETF will appear just next week. According to him, this will happen due to a “dam bursting”.

Keep in mind that after launch... I'm sure ETH-based products will be added, then Solana-based, and then... it will probably never end. The dam will be broken,” the Bloomberg analyst noted.

The Ethereum-ETF is believed to be officially launched on July 23.

The SEC sent final instructions to Ethereum ETF issuers during the latest negotiations. Thus, the launch date for the ETH product has been set for July 23. This event should have a huge impact on the asset's price, as it did with bitcoin. Having launched in January, BTC reached a record high of $73,000 just three months later.

Interestingly, GSR Markets also concluded that SOL is the most likely contender for the next ETF. In their opinion, this is due to increased demand as the token has “established itself in the big three cryptocurrencies.” $SOL