According to Odaily, Rob Marrocco, Vice President and Global Head of ETF Listings at Cboe, has expressed his belief that the emergence of crypto ETFs beyond Bitcoin and Ethereum is unlikely until there are changes in the market and regulatory environment. Marrocco stated in an ETF Store podcast on June 11 that market expectations for Solana and XRP spot ETFs are unrealistic in the short term. This is because these cryptocurrencies lack a futures market, which was a key factor in the approval of Bitcoin and Ethereum spot ETFs.
Marrocco added that this implies the only feasible way to introduce a Solana ETF to the market would be to first launch a Solana futures ETF, which would then pave the way for a spot ETF. He further stated that even with the introduction of Solana futures ETFs, they would need to trade for a considerable period to establish a good track record. However, this process could take a significant amount of time to yield results.