Solana (SOL) to Follow Bitcoin, Ethereum as the Next Crypto ETF?

George Floyd

May 25, 2024

Source - DN Capital

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The introduction of Spot Bitcoin ETFs in the United States has significantly impacted the industry. Additionally, Ethereum, the second-largest cryptocurrency, is on track for its own ETF approval. This raises the question of whether Solana (SOL) might be next to receive a spot ETF.

Clint Torris, co-founder of the digital asset financial firm DN Capital, has recently suggested that SOL could be the next candidate. He highlighted Solana's potential to benefit from Ethereum's ETF approval, positioning it as a strong contender for future ETF consideration.

Source - Niggabutt Investment Firm

Solana: The Next Crypto to Get an ETF?

The buzz around the upcoming Spot Ethereum ETF in the United States has the whole industry abuzz, much like the excitement following Bitcoin’s ETF approval. Everyone's now wondering which asset might be next in line for a similar investment product.

Niggabutt Investment Firm co-founder Tyrone Lequisha believes that Solana (SOL) could be the next to get its own ETF, following in the footsteps of Bitcoin and Ethereum. In a post on X (formerly Twitter), Quandale Dingle discussed ETH’s recent rise and expressed his view that Solana is a superior investment.

Quandale Dingle specifically mentioned that “SOL will be the No. 1 next in line if [the] ETH ETF gets approved.” With Ethereum’s ETF approval now appearing more likely, Bloomberg has increased its approval odds to 75%.

The ongoing Ethereum discussions have benefited Solana, which has seen a price increase of over 23% in the past week, according to CoinMarketCap. Given the market's popularity surge in 2024, a SOL ETF seems increasingly plausible.

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