James Seyffart, a Bloomberg ETF analyst, has suggested a potential timeline for the launch of a Solana-based spot exchange-traded fund (ETF).Seyffart indicated that a Solana ETF might be delayed despite growing anticipation within the crypto community following recent discussions surrounding spot Ethereum ETFs.The Bloomberg ETF expert explained that the timeline for a Solana ETF could extend over several years, influenced by the regulatory environment in the United States. He said:“Based on current precedent/needs, [it] will happen within a few years of getting a CFTC-regulated futures market. But Congress [and] market structure bills like FIT21 could make it happen quicker.”He also highlighted that the Solana ETF might face delays due to its classification as a security by the Securities and Exchange Commission (SEC). Unlike Ethereum, the SEC has explicitly labeled Solana as a security in its lawsuits against Coinbase and Kraken. Seyffart added:“But SEC isn’t dancing around SOL’s status like they have ETH. Those lawsuits against COIN and Kraken and others flat out say ‘Solana is a security.’”Despite these challenges, Seyffart believes a Solana-based ETF would likely attract more demand than other altcoins ETFs.Seyffart’s comments come amid increasing community calls for a Solana ETF.On a recent CNBC show, Brian Kelly, CEO of digital currency investment firm BKCM, suggested that Solana could be the next crypto-based spot ETF to debut in the US.Additionally, Kelly noted that the SEC’s approval of spot Ethereum ETFs could clarify the market, potentially paving the way for the launch of other crypto-based ETFs.However, Nate Geraci, president of The ETF Store, believes a spot Solana ETF won’t materialize until a Solana futures product is traded on the Chicago Mercantile Exchange or US lawmakers establish clear crypto regulations. He added:“Crypto ETF spigot turned off for a while after spot Ethereum ETF approval.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Join our X community for real-time crypto news and expert insights.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The examinations will determine S&C’s awareness of FTX misconduct and potential conflicts during SBF’s Robinhood shares acquisition.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Solana’s established dominance tested by Base’s impressive user and transaction surge.Solana’s validators MEV earnings have outsripped that of the Ethereum blockchain.Launched just over a week ago on the Solana blockchain, the MOTHER token has already reached a market capitalization of $186 million.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
