Signature Bank: Spot ETFs For Solana, Cardano Unlikely
CryptoNewsTerminal Staff04 Aug, 2024
Signature Bank: Spot ETFs For Solana, Cardano Unlikely
Signature Bank's head of investment research, Katalin Tischhauser, recently spoke with Cointelegraph. She said that "it is unlikely that spot exchange-traded funds (ETFs) for Solana (SOL) and Cardano (ADA) will be launched." She went on to say that her bank believes "it would be difficult for spot ETFs for anything other than bitcoin (BTC) and ether (ETH) to gather enough demand to be viable." Tischhauser also noted that tokens other than BTC and ETH have very little name recognition outside of the crypto community. She did say that more crypto spot ETFs could come online if the U.S. Securities and Exchange Commission were to deem crypto exchanges like Coinbase to be eligible exchanges.
