$Solana Price May Soar: Will It Follow Ethereum's Footsteps?

According to cryptocurrency analysts, Solana (SOL) may follow in the footsteps of Ethereum (ETH) in the USA.

The US Securities and Exchange Commission (SEC) will make a decision regarding spot Ethereum ETFs this week. Analysts evaluating the returns given by the SEC to the stock exchange and issuers expect their approval.

BKCM CEO Brian Kelly said that if Ethereum ETFs are approved, it will be Solana's turn and an exchange traded fund will be established for SOL.

Ethereum price rose 25% over the week on the thought that ETF applications would be approved.

“This could happen within a few years after the futures market becomes regulated by the CFTC,” Bloomberg analyst James Seyffart said of the Solana ETFs. But Congress and market structure-related bills such as FIT21 can make this happen much faster,” he said.

Seyffart reminded that the SEC described Solana as a security in the lawsuits filed against Coinbase and Kraken exchanges, and stated that this could be a difficult process.