🔥 Analysts Discuss Potential Solana ETF in the US

In the United States, discussions continue about which cryptocurrency will have the third exchange-traded fund (ETF) after Bitcoin and ETH. Recently, while XRP was frequently mentioned, attention has suddenly shifted to Solana (SOL). This shift occurs amid growing expectations surrounding the potential approval of a spot ETF for Ethereum (ETH). Industry leaders believe Solana’s strong market presence and increasing popularity position it favorably for an ETF following Ethereum.

🔸 Will a Solana ETF Arrive?

Brian Kelly, founder of the digital currency investment firm BKCM, commented on the approval process of Ethereum spot ETFs by the SEC in an interview with CNBC before the SEC’s approval. Shifting his focus to the next option, Kelly highlighted the potential of Solana, often referred to as the Ethereum killer in cryptocurrencies.

In the later minutes of the interview, Kelly stated, “Bitcoin, Ethereum, and Solana will likely be the top three cryptocurrencies for this cycle.”

James Seyffart, a well-known ETF analyst from Bloomberg Intelligence, also made statements parallel to Kelly’s views. Seyffart added that regulatory hurdles, such as a futures market regulated by the CFTC.

Based on this situation, Seyffart indicates that the Solana ETF might not enter the market until 2026 at the earliest. Additionally, he mentions that recently accepted legislation favoring cryptocurrencies could expedite the ETF process faster than expected.

🔸 Is an XRP ETF Possible?

Although XRP appears to operate in a clearer regulatory framework compared to Solana, Seyffart emphasized that XRP faces a longer path towards an ETF.

One of the biggest obstacles remains the ongoing legal battle between Ripple Labs, the issuer of XRP, and the US Securities and Exchange Commission (SEC). Additionally, the lack of a futures market regulated by the CFTC on the XRP side is cited as another hurdle.

Seyffart notes that even if these challenges are overcome, a potential XRP ETF cannot be guaranteed in the near future.

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