{"id":21116,"date":"2024-05-23T13:00:25","date_gmt":"2024-05-23T10:00:25","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21116"},"modified":"2024-05-23T10:51:24","modified_gmt":"2024-05-23T07:51:24","slug":"brian-kelly-predicts-solana-could-be-next-for-etf-treatment","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/brian-kelly-predicts-solana-could-be-next-for-etf-treatment\/","title":{"rendered":"Brian Kelly Predicts Solana Could Be Next for ETF Treatment"},"content":{"rendered":"<p>Crypto enthusiast and the trader on fast money, <strong>Brian Kelly<\/strong> has left the crypto community all bated as he points to <strong>Solana (SOL)<\/strong> as the next cryptocurrency set to be approved for an<strong> exchange-traded fund (ETF)<\/strong> in the United States. This bold prediction came after a talk show Fast Money on May 22 , one day before the SEC was about to come up with a verdict on the proposed spot Ether (ETH) ETF.<\/p>\n<p><strong>\u201cThe trade now is, who\u2019s next,\u201d Kelly posed during the show.<\/strong> \u201cYou\u2019ve got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle.\u201d<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/brian-kelly-predicts-solana-could-be-next-for-etf-treatment\/#Industry_Reactions\" title=\"Industry Reactions\">Industry Reactions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/brian-kelly-predicts-solana-could-be-next-for-etf-treatment\/#Regulatory_Hurdles\" title=\"Regulatory Hurdles\">Regulatory Hurdles<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/brian-kelly-predicts-solana-could-be-next-for-etf-treatment\/#The_Road_Ahead\" title=\"The Road Ahead\">The Road Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Reactions\"><\/span>Industry Reactions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>However, not everyone shares Kelly\u2019s optimism about Solana\u2019s potential for an ETF.<strong> Nate Geraci,<\/strong> the president of The ETF Store, pointed out that the chances of getting a spot Solana ETF will remain a pipe dream until at least one Solana futures contract starts trading on the CME or until there is clear legal precedence set for crypto products in the country. At the moment, CME and Cboe are the only ones operating bitcoin futures while all other cryptocurrencies are yet to be approved in the United States.<\/p>\n<p>Bloomberg ETF analyst James Seyffart expressed similar views to Geraci\u2019s wherein the development of a distant future trading market will probably happen \u201cin a couple of years\u201d after the origin of an institutionalized Commodity Futures Trading Commission (CFTC). Seyffart also pointed out that a spot Solana ETF would see more demand than other digital assets outside of Bitcoin and Ether.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regulatory_Hurdles\"><\/span>Regulatory Hurdles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Despite the potential demand, Seyffart cautioned that regulatory challenges could impede Solana&#8217;s ETF prospects.<\/strong> The SEC has previously flagged Solana as a security in lawsuits involving Coinbase and Kraken, which could complicate future applications. Gary Gensler and the SEC\u2019s stance on Solana&#8217;s security status adds another layer of complexity to the issue.<\/p>\n<p>In contrast, Cinneamhain Ventures partner Adam Cochran believes that either <a href=\"https:\/\/coinengineer.net\/blog\/whats-litecoin\/\">Litecoin (LTC)<\/a> or <a href=\"https:\/\/coinengineer.net\/blog\/dogecoin-creator-offers-cautious-view-on-socialfi-hype\/\">Dogecoin (DOGE)<\/a> would be more likely to receive ETF treatment next. \u201cMuch lower demand, but cleaner paths,\u201d Cochran commented, noting that both Litecoin and Dogecoin operate on a proof-of-work consensus mechanism similar to Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Road_Ahead\"><\/span>The Road Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite differing opinions, the interest in Solana continues to grow. Recently, multi-trillion-dollar asset management company Franklin Templeton favorably mentioned Solana and its co-founder Anatoly Yakovenko, which has prompted debates about increasing the chances of the company\u2019s application for Solana ETF. Moreover, Bitwise\u2019s CIO, Matt Hougan, stated that Solana in his opinion will be the \u201ccrypto asset of 2024\u201d and has also endeavored real use cases onnetinet that could be of interest to institutions.<\/p>\n<p>As the debate rages on, the cryptocurrency community will be observing and waiting for the next move of the SEC, and any other measures that will likely open doors for new ETFs linked to other digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto enthusiast and the trader on fast money, Brian Kelly has left the crypto community all bated as he points to Solana (SOL) as the next cryptocurrency set to be approved for an exchange-traded fund (ETF) in the United States. This bold prediction came after a talk show Fast Money on May 22 , one<\/p>\n","protected":false},"author":6,"featured_media":10775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[6287,297,319],"class_list":["post-21116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-brian-kelly","tag-etf","tag-solana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brian Kelly Predicts Solana Could Be Next for ETF Treatment<\/title>\n<meta name=\"description\" content=\"Crypto investor Brian Kelly predicts Solana (SOL) will be the next cryptocurrency to receive ETF treatment, sparking debate among industry experts about its feasibility.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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