A Solana ETF is on the way in which after Ethereum’s exchange-traded fund launches subsequent week, one analyst says. Certainly, Bloomberg’s Eric Balchunas has famous that the ETH product is ready to kick off a wave of latest crypto-based ETFs in the US, saying that the “dam is damaged.”
Ethereum is simply the second crypto-based ETF within the nation. Furthermore, filings reveal that the product is ready to formally launch on July twenty third. Now, specialists are predicting what asset may very well be subsequent in line, with SOL being a well-liked contender to get the subsequent ETF approval nod from the SEC.
SOL to Lead Wave of Crypto ETFs After ETH Launch, Knowledgeable Predicts
One of the crucial trusted ETF reporters has lately highlighted what may very well be subsequent for crypto. Certainly, a Solana ETF is predicted to be subsequent in line after Ethereum launches subsequent week. Balchunas took to X (previously Twitter) to talk on his expectations.
The Bloomberg reporter mentioned, “Remember after launch there are flows after which add’l ETH merchandise I’m certain, then Solana, after which… it’s most likely by no means going to finish. The dam is damaged.”
The SEC has despatched closing directions to Ethereum ETF issuers in its newest talks. That has positioned the ETH product launch date on July twenty third. It ought to have an enormous impact on the asset’s worth, just like Bitcoin. Launching in January, BTC reached an all-time excessive worth of $73,000 simply three months later.
Crypto trade Kraken has already famous that the Ethereum ETF is a “rising tide,” that may raise all boats. Nonetheless, the crypto market is involved in what asset may comply with swimsuit. In keeping with Balchunas and different specialists, Solana has probably the most potential
Earlier this 12 months, GSR Markets launched a report on the subsequent seemingly ETF asset. They concluded SOL was most definitely as a result of decentralization and general demand. Furthermore, they famous that the token has “cemented itself as a part of crypto’s Massive Three.”
