After the Ethereum ETFs were approved, a popular crypto trader sparked a debate on social media that Solana ETFs might be next in line.
Brian Kelly, one of the most prominent crypto traders, claimed in a recent interview that Solana ETFs could soon trade on exchanges. Although this became a part of social media speculation, it has received overwhelming support from crypto stakeholders. Kelly said so because SOL was one of the biggest tokens in the crypto market. Meanwhile, the US SEC has recently given approvals for Ethereum ETFs.
Kelly said the trio of Bitcoin, Ethereum, and Solana could lead crypto ETFs in the future. Moreover, Kelly, who is also a fund asset manager, started an industry deliberation with his prediction. Several popular analysts, asset management firms, and general crypto enthusiasts voiced optimism about Solana ETFs.
The approval of Ethereum ETFs has been a long-awaited development. The SEC has historically been cautious about approving crypto-related ETFs, citing concerns over market manipulation and underlying asset custody. Bitcoin ETFs, for instance, only received the green light in early 2024. This time, however, the SEC’s sudden approval sent bullish sentiments in the market while ETH soared.
These Ethereum ETFs would hold Ethereum (ETH) directly or through derivatives tied to its price. This allows investors to gain exposure to Ethereum’s price movements without the need to purchase and store the digital assets themselves.
The US SEC’s decision marks a significant milestone for the crypto industry. It potentially opens the door for wider institutional adoption and mainstream investor participation in Ethereum. The arrival of Ethereum ETFs could significantly increase liquidity in the ETH as well.
At the same time, higher institutional adoption with the crypto ETFs could unlock a significant pool of capital for the Ethereum ecosystem.
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