Brian Kelly predicts Solana could be the next crypto ETF

Brian Kelly predicts Solana could be the next crypto ETF

Brian Kelly, founder and CEO of BKCM LLC, recently opined that Solana could be the next cryptocurrency to get its exchange-traded fund (ETF) cash in the US.

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Brian Kelly, founder and CEO of BKCM LLC, recently opined that Solana could be the next cryptocurrency to get its exchange-traded fund (ETF) cash in the US.

“Bitcoin, Ethereum and Solana are probably the big three of this cycle,” Kelly added.

Ethereum ETF Hopes

After the successful launch of the Bitcoin ETF in January, it now appears that the SEC could be on its way to approving Ethereum ETFs. The regulator’s last-minute U-turn caused a huge price increase.

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While Kelly doesn’t know exactly when the SEC will approve an Ethereum ETF, he’s convinced it will happen at some point.

Little interest in altcoins

As reported by U.TodayRobert Mitchnick, head of digital assets at BlackRock, recently acknowledged that there was “little interest” in Ethereum and “very little interest” in other altcoins based on conversations with his clients.

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In January, BlackRock reportedly confirmed that it had no plans to launch an ETF for the XRP cryptocurrency.

That said, there are multiple Solana exchange-traded products (ETPs) in Europe.

Is Solana a value?

Last year, SEC lawsuits against Coinbase and Binance named the Solana token as a security. The Solana Foundation strongly rejected this claim, claiming that the blockchain is decentralized.

The legal status of the token could significantly complicate the ETF approval process in the United States. Additionally, it is worth mentioning that Solana does not have its futures-based ETF in the United States.

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