Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bloomberg analyst predicts Solana ETF delay despite community anticipation

Share This Post

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.

CFTC-regulated futures market

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.

Experts debate Solana ETF

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.”

The post Bloomberg analyst predicts Solana ETF delay despite community anticipation appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bull Flag Pattern Tips FET For $9.33 Price Target – Details

Fetchai (FET) has experienced a notable gain over the past 48 hours, with prices rising by over 13% within this period The AI token continues to prove a favorable investment, reporting a monthly gain

Standard Chartered Predicts Bitcoin Hitting $500K as SEC Filings Fuel Demand

Bitcoin’s explosive path to $500,000 just gained serious momentum as sovereign funds and heavyweight institutions pile in, validating Standard Chartered’s ultra-bullish thesis with real capital

Singaporean Crypto Investors Boost XRP Holdings To 17%, Report Finds

Singapore’s crypto crowd is shifting its focus beyond Bitcoin Interest in XRP has climbed as more traders add the token to their portfolios The change comes even as Bitcoin remains the top holding

Robert Kiyosaki Predicts Mass Financial Ruin, Sees Bitcoin Hitting $1 Million

Robert Kiyosaki warns the financial apocalypse has arrived, urging immediate escape from collapsing fiat into bitcoin, gold, and silver before hyperinflation devastates savers worldwide Fiat Is

Altcoins Lag As Bitcoin Price Breaks $111,000: Why This Bull Market Is Different From 2021

Crypto firm Matrixport has delivered insights into why this bull market is different from the 2021 bull run Their analysis sheds more light on why altcoins are lagging despite the Bitcoin price rally

SUI Short-Term Spark Fades: Rejection At $3.95 Triggers 6% Slide

SUI is attempting to regain traction, currently trading at $36292 with a modest 134% uptick on the 4-hour chart noted by Crypto Man MAB in a recent X post After reaching a 24-hour high of $39599, the