Nate Geraci, President of the ETF Store, has predicted that an ETF combining Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) may be on the horizon.
The move could diversify the way investors engage with cryptocurrencies by combining traditional investment mechanisms with the digital asset sector.
“We are rapidly moving towards index-based, actively managed crypto ETFs.”
Despite Geraci's optimism, not everyone agrees. Skeptics point to regulatory hurdles, especially regarding Solana.
“Solana has been labeled as an unregistered security by securities regulators. Surely the SEC will not approve a spot ETF for SOL before going to court in a few years,” one user X commented.
However, the SEC has approved individual spot ETFs for Bitcoin and Ethereum, marking a progressive step toward broader acceptance of cryptocurrencies in formal investment vehicles.
These developments could pave the way for more complex ETF structures, including those proposed for Solana.
Furthermore, the Chicago Board Options Exchange (CBOE) recently took a major step forward by filing form 19b-4s for the Solana ETFs. This form invites public comment and is an important stage in the SEC's review process, reflecting previous steps taken for the Bitcoin and Ethereum ETFs.
Industry leaders, including Matthew Sigel from VanEck's digital asset research team, have noted that while the CME futures market is not a requirement for crypto ETF approval, approval Broad regulatory approval could depend on such developments or a change in SEC leadership.
Political changes may affect the regulatory approach. With President Joe Biden's withdrawal, the political climate is ripe for change. Potential leadership changes at the SEC, especially if Donald Trump, who has expressed support for the cryptocurrency sector, wins the election, could further impact regulatory attitudes toward cryptocurrencies .
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