SOLANAETF
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$SOL emerges as a top payment choice with #PayPal integrating its stablecoin, aiming for faster, cheaper transactions. Institutions like Visa and #Fireblocks see Solana's scalability (65,000 TPS, $0.0025 fees) as a gamechanger. Analysts predict a Solana ETF next, adding to growing adoption by PayPal, Stripe, and Visa. #SOLANAETF
Brad Garlinghouse's remarks at Consensus 2024, predicting Solana ETF approvals, have stirred speculation about SOL's price surge potential. With the SEC's nod to Bitcoin and Ethereum ETFs, Garlinghouse sees clear regulations as vital for digital asset growth in the US, highlighting Solana's promise.
#Consensus2024 #SOLANAETF #Garlinghouse #ETHETFsApproved
#Consensus2024 #SOLANAETF #Garlinghouse #ETHETFsApproved
JP Morgan: Solana and XRP ETFs Unlikely to Gain SEC Approval.
JP Morgan: Solana and XRP ETFs Unlikely to Gain SEC Approval.
Following the SEC's approval of Ethereum ETFs, alongside Bitcoin ETFs, speculation has grown about the potential for ETFs based on other cryptocurrencies like Solana (SOL) and XRP. However, JP Morgan's recent comments suggest this may not be likely.
The Block reports that Nikolaos Panigirtzoglou, JP Morgan's managing director and global market strategist, doubts the SEC will approve ETFs for Solana or other altcoins. Panigirtzoglou explained that the SEC's stance is that most cryptocurrencies are securities, complicating the approval of further altcoin ETFs.
"We don't expect the SEC to approve any altcoin ETFs other than Ethereum," Panigirtzoglou said. "The approval of ETH ETFs was already a significant step, given the ambiguity about whether Ethereum should be classified as a security. We believe the SEC is unlikely to move forward with approving Solana or other token ETFs, as they are likely to be classified as securities."
This insight emphasizes the challenges other cryptocurrencies face in obtaining ETF approval without new legislation that clarifies their status as non-securities.
#ETHETFsApproved #SOLANAETF #BTC☀
Following the SEC's approval of Ethereum ETFs, alongside Bitcoin ETFs, speculation has grown about the potential for ETFs based on other cryptocurrencies like Solana (SOL) and XRP. However, JP Morgan's recent comments suggest this may not be likely.
The Block reports that Nikolaos Panigirtzoglou, JP Morgan's managing director and global market strategist, doubts the SEC will approve ETFs for Solana or other altcoins. Panigirtzoglou explained that the SEC's stance is that most cryptocurrencies are securities, complicating the approval of further altcoin ETFs.
"We don't expect the SEC to approve any altcoin ETFs other than Ethereum," Panigirtzoglou said. "The approval of ETH ETFs was already a significant step, given the ambiguity about whether Ethereum should be classified as a security. We believe the SEC is unlikely to move forward with approving Solana or other token ETFs, as they are likely to be classified as securities."
This insight emphasizes the challenges other cryptocurrencies face in obtaining ETF approval without new legislation that clarifies their status as non-securities.
#ETHETFsApproved #SOLANAETF #BTC☀
Crypto investor Brian Kelly predicts Solana could be the next cryptocurrency with a spot ETF in the US, but there are hurdles. Unlike Bitcoin and Ethereum ETFs, a regulated Solana futures market and clear crypto regulations are needed first. The SEC's past security classification of Solana adds another layer of complexity. While Kelly sees Solana as a major player, others like Litecoin or Dogecoin might be more likely candidates for the next spot ETF.
#ETHETFS #SOLANAETF #dogecoin #Briankelly
#ETHETFS #SOLANAETF #dogecoin #Briankelly
