Fast Money’s Brian Kelly Says Solana is Next in Line For a US Spot ETF

Solana Spot ETFs
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Ruholamin Haqshanas
Author Categories
About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Crypto investor and trader Brian Kelly has suggested that Solana (SOL) could potentially become the next cryptocurrency to have a spot exchange-traded fund (ETF) in the United States.

On a recent episode of CNBC’s ‘Fast Money’, Kelly, who also serves as the founder and CEO of the BKCM Digital Asset Fund, posed the question, “The trade now is, who’s next?”

He then suggested, “You’ve got to think about Solana as probably the next one. Bitcoin, Ethereum and Solana are probably the big three for this cycle.”

The speculation comes just a day before the Securities and Exchange Commission (SEC) is set to decide on at least one proposed spot Ether (ETH) ETF.

Solana ETF Might Not Come Next

However, not everyone shares Kelly’s optimism.

Nate Geraci, president of The ETF Store, expressed skepticism, stating that a spot Solana ETF might not materialize until a Solana futures product is listed on a major exchange or until Congress establishes a clear regulatory framework for cryptocurrencies beyond Bitcoin and Ethereum.

James Seyffart, an ETF analyst at Bloomberg, echoed Geraci’s sentiments, predicting that the launch of a spot Solana ETF could be years away, contingent upon regulatory milestones such as approval from the Commodity Futures Trading Commission (CFTC).

Despite the differing opinions, Seyffart highlighted the potential demand for a spot Solana ETF, suggesting it could surpass other digital assets outside of Bitcoin and Ethereum.

However, regulatory hurdles loom large.

The SEC, under the leadership of Gary Gensler, has previously categorized Solana as a security in lawsuits against Coinbase and Kraken, adding complexity to the path for potential ETF applicants.

Adam Cochran, a partner at Cinneamhain Ventures, offered a contrasting perspective, suggesting that either Litecoin (LTC) or Dogecoin (DOGE) might beat Solana to the ETF race due to perceived cleaner regulatory pathways, despite lower demand compared to Solana.

While few ETF issuers have openly discussed the possibility of filing for a spot Solana ETF, Franklin Templeton, a trillion-dollar asset management firm, recently praised Solana and its founder Anatoly Yakovenko.

This has fueled speculation about the firm’s potential interest in launching a Solana ETF in the future.

Fidelity Files Amended S-1 Application with SEC

As reported, Fidelity made an amended S-1 application to SEC for its spot Ether ETF yesterday. 

The updated application specifies that the underlying Ether tokens of the ETF will not be staked.

S-1 filings are mandatory registration forms required by the SEC for launching publicly traded securities products in the United States.

The speculation around the approval of spot Ether ETFs has also provided a boost to spot Bitcoin ETFs, which saw an uptick in inflows on Tuesday.

BlackRock’s iShares Bitcoin Trust (IBIT) witnessed a substantial inflow of $290 million on May 21, marking a reversal in the trend of zero or minimal inflows observed over the past six weeks.

The recent influx of funds into BlackRock’s ETF represents the highest level since April 5, eclipsing the cumulative inflows witnessed over the past 21 trading days.

On May 21, BTC reached a six-week high of $71,600, but it subsequently dipped below the $70,000 level during early trading on May 22, currently trading at $69,444 at the time of writing.

More Articles

Price Analysis
Bitcoin Price Nears $97,000—Will the NFP Report Send It Pumping or Dumping?
Arslan Butt
Arslan Butt
2025-02-07 08:02:59
Altcoin News
Sony’s Soneium Blockchain Debuts First Music NFT Collection with Coop Records
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-07 07:40:36
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors