The post Spot Solana ($SOL) ETFs: Pioneering the Future of Cryptocurrency Investments appeared on BitcoinEthereumNews.com.

Brian Kelly, a notable crypto investor and CNBC’s ‘Fast Money’ trader, recently suggested that Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the United States. Kelly’s prediction has ignited a lively debate among industry experts and market observers. “You’ve got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle,” Kelly remarked. Brian Kelly’s prediction on Solana’s potential ETF sparks debate among crypto experts. Brian Kelly’s Bold Prediction On May 22, 2024, Brian Kelly, a well-known figure in the cryptocurrency space, suggested that Solana (SOL) might be the next cryptocurrency to be featured in a spot ETF in the United States. Kelly, who is the founder and CEO of BKCM LLC, an investment firm focused on digital currencies, made this prediction during CNBC’s post-market talk show, Fast Money. His statement has since sparked a lively debate among industry experts and market observers. Industry Reactions Not everyone shares Kelly’s optimism. Nate Geraci, president of The ETF Store, countered that a spot Solana ETF is unlikely unless there is a Solana futures product listed on the Chicago Mercantile Exchange or a robust cryptocurrency regulatory framework is established by Congress. James Seyffart, a Bloomberg ETF analyst, echoed Geraci’s caution. Seyffart suggested that a spot Solana ETF would require a Commodity Futures Trading Commission (CFTC)-regulated market, which he believes could happen within a few years. He noted that such an ETF could see significant demand, second only to Bitcoin and Ether. However, he also pointed out that the Securities and Exchange Commission (SEC) has previously classified Solana as a security in lawsuits against Coinbase and Kraken, potentially complicating future applications. Alternative Perspectives Contrary to Kelly’s and Seyffart’s views, Adam Cochran, partner at Cinneamhain Ventures, argued that…

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Filed under: News - @ May 23, 2024 11:14 am