Solana: The Likely Contender
Experts predict that Solana (SOL) could be the next cryptocurrency to get its own ETF. Brian Kelly of BKCM believes Solana is the “Big 3” along with Bitcoin and Ethereum, and since the latter two already have ETFs, Solana is the next likely candidate.
Bloomberg’s James Seyffart agrees, suggesting that a SOL ETF could see high demand. However, he cautions that it may take a few years for a SOL ETF to launch, as it requires a CFTC-regulated futures market.
XRP: Facing Challenges
The likelihood of an XRP ETF is less certain. CoinShares’ Townsend Lansing emphasizes that the SEC must first determine that XRP is not a security. Van Buren Capital’s Scott Johnsson believes the SEC’s approval is “very slim.”
Seyffart also points out that XRP futures must be traded on a regulated exchange like the CME. Additionally, the SEC’s ongoing case against Ripple could further delay an XRP ETF.
Ripple’s Confidence
Despite the challenges, Ripple CEO Brad Garlinghouse remains optimistic. He believes XRP will eventually have its own ETF once the SEC approves other crypto funds. He notes that XRP and Bitcoin are the only cryptocurrencies with clear regulatory status.
