Solana

United

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/brian-kelly-predicts-solana-etf-approval" data-wpel-link="internal" rel="noopener noreferrer nofollow">Brian Kelly Predicts Solana ETF Approval</a><br></p>
<p style="text-align: justify">Prominent CNBC analyst Brian Kelly recently stated that the popular altcoin Solana (SOL) might be the next cryptocurrency to gain approval for a spot exchange-traded fund (ETF) in the United States. Kelly believes this approval is expected to occur eventually.</p>
<h2 id="why-is-solana-next">Why is Solana Next?</h2>
<p style="text-align: justify">Kelly, who also serves as the founder and CEO of BKCM LLC, identified Solana, Bitcoin (BTC), and Ethereum (ETH) as significant players in the current cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a>. He predicts that after Bitcoin and Ethereum, Solana will be the subsequent cryptocurrency to secure a spot ETF in the US.</p>
<p style="text-align: justify">His remarks came at a time when optimism for the approval of spot Ethereum ETFs increased following the successful launch of spot Bitcoin ETFs earlier this year.</p>
<h2 id="what-challenges-lie-ahead-for-solana-etf">What Challenges Lie Ahead for Solana ETF?</h2>
<p style="text-align: justify">Despite the growing optimism for <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> Ethereum and Solana ETFs, interest in altcoins remains subdued. Robert Mitchnick, head of digital assets at BlackRock, noted that their clients exhibit limited interest in Ethereum and even less in other altcoins. BlackRock confirmed in January that it had no plans to introduce a spot ETF for <a href="https://en.bitcoinhaber.net/xrps-market-cycle-analysis-a-glimpse-into-the-future" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a>.</p>
<p style="text-align: justify">In Europe, Solana already has several exchange-traded products (ETPs) on various exchanges, indicating some level of institutional interest. However, the US regulatory environment remains more challenging, making it difficult to launch such an ETF.</p>
<h2 id="key-considerations-for-investors">Key Considerations for Investors</h2>
<ul>
 <li>Legal and regulatory hurdles remain significant in the US for Solana.</li>
 <li>Institutional interest in Solana is currently lower compared to major cryptocurrencies like Bitcoin and Ethereum.</li>
 <li>The SEC’s classification of Solana as a security poses a major obstacle for ETF approval.</li>
</ul>
<p style="text-align: justify">These factors contribute to the uncertainty surrounding Solana’s potential approval for a spot ETF despite its existing institutional interest in Europe.</p>
<p style="text-align: justify">In conclusion, while Solana shows promise for future spot ETF approval, significant regulatory challenges in the US and subdued institutional interest present notable obstacles. How these issues are navigated will be pivotal for Solana’s ETF prospects.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/brian-kelly-predicts-solana-etf-approval" data-wpel-link="internal" rel="noopener noreferrer nofollow">Brian Kelly Predicts Solana ETF Approval</a></h5>

Brian Kelly Predicts Solana ETF Approval

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