Solana (SOL) ETF: Bloomberg Analyst Predicts 'Years Away' Despite Strong Potential

IconCryptoNewsTerminal Staff13 Jun, 2024

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Solana (SOL) ETF: Bloomberg Analyst Predicts 'Years Away' Despite Strong Potential

Solana (SOL) is a strong contender for the next exchange-traded fund (ETF) based on a digital asset, according to Bloomberg ETF analyst James Seyffart. However, Seyffart cautions that it could still be years before another altcoin ETF is approved by the U.S. Securities and Exchange Commission (SEC). In an interview with Crypto News, Seyffart explained that the path to a U.S.-listed crypto ETF remains challenging, with Bitcoin (BTC) and Ether (ETH) ETFs being the only exceptions. He believes that SOL, with its fast transaction speeds and low fees, makes the most sense as next in line for an ETF. Despite the potential, Seyffart emphasizes that the timeline for approval remains uncertain. He estimates that even if issuers file for an ETF tomorrow, it could take until March 2025 before the SEC makes a decision. Additionally, the upcoming U.S. presidential election could influence the approval process, potentially speeding it up or delaying it further. Overall, Seyffart's analysis suggests that while SOL has strong potential for an ETF in the future, investors should be prepared to wait a significant amount of time before seeing it come to fruition.

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