Recent
developments
with
the

Spot
Ethereum
ETFs

have
led
to
discussions
about
which
crypto
token
could
have
its
own
ETF
next.

Solana
(SOL)
and
XRP
ETFs

have
taken
center
stage,
with
experts
deliberating
which
one
will
come
first. 

Expert
Says
A
Solana
ETF
Is
Next

Brian
Kelly,
founder
of
digital
assets
investment
firm
BKCM,

mentioned

during
an
interview
on
CNBC
that
Solana
is
probably
the
next
crypto
token
to
get
its
own
ETF.
He
explained
that
Bitcoin,
Ethereum,
and
Solana
are
the
‘Big
3’
for
this

cycle,
making
it
likely
that
Solana
is
next
since
the
two
foremost
crypto
tokens
already
have
their
respective
funds.

Bloomberg
analyst
James
Seyffart

also
seemed
to
agree
with
Kelly,

stating

that
he
believes
a
SOL
ETF
see
more
demand
than
other
digital
assets
besides
Bitcoin
and
Ethereum.
However,
he
claimed
a
SOL
ETF
would
launch
within
a
few
years
of
getting
a
CFTC-regulated
futures
market. 

 

Seyffart
added
that
Congress
and
market
structure
bills
like
the
Financial
Innovation
and
Technology
for
the
21st
Century

(FIT21)
bill

will
speed
up
a
SOL
ETF
launch.
Congress’
intervention
is
necessary,
considering
the
Commission
has
outrightly
labeled
Solana
security
in
the

lawsuit
against
Coinbase

and
Kraken. 

Seyffart
noted
that
this
security
label
could
make
the
potential
approval
of
a
SOL
ETF
a
“very
rocky
road.”
This
issue
could
be
a
stumbling
block
to
several
other
crypto
tokens
since

Bitcoin
and
Ethereum

appear
to
be
the
only
tokens
the
SEC
doesn’t
consider
securities.

This
seems
to
be
why
Ark
Invest’s
CEO
Cathie
Wood
once
predicted
that
there
will
only
likely
be

Bitcoin
and
Ethereum
Spot
ETFs

in
the
US.
She
added
that
it
would
be
surprising
to
see
“anything
but
Bitcoin
and
Ether
being
approved
by
the
SEC,”

The
Likelihood
Of
An
XRP
ETF

Market
experts
have
also
discussed
the
likelihood
of
an
XRP
launching
soon.
CoinShares’
head
of
product,
Townsend
Lansing,

previously
mentioned

that
the
SEC
must
agree
that
XRP
isn’t
a
security
before
an
XRP
ETF
can
launch.
Van
Buren
Capital
general
partner
Scott
Johnsson
remarked
that
the
likelihood
of
the
Commission
approving
this
fund
was
“very
slim.”

 

Seyffart
has
also
discussed
the
possibility
of
an
XRP
ETF
launching
soon.
Like
what
he
said
about
a
SOL
ETF,
he

mentioned

that
XRP
futures
must
be
traded
on
a
regulated
exchange
like
the
Chicago
Mercantile
Exchange
(CME).
Meanwhile,
he
believes
that
the

SEC’s
case
against
Ripple

is
another
reason
why
XRP
ETF
cannot
happen
this
year. 

The
SEC’s
case
against
Ripple
seems
to
be
another
reason
a
SOL
ETF
could
launch
before
an
XRP
ETF.
However,

Ripple’s
CEO
Brad
Garlinghouse

is
confident
that
XRP
will
be
among
the
crypto
assets
that
will
have
its
ETF
when
the
SEC
is
ready
to
approve
other
crypto
funds,

 

noting

that
XRP
and
Bitcoin
are
the
only
crypto
tokens
with

regulatory
clarity. 

Featured
image
from
Yoyodex,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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