"Wall Street is greedy": Will there be a Solana ETF soon?

First Bitcoin, then Ethereum - and then Solana? Tether co-founder William Quigley believes that an ETF is coming soon. He told Decrypt that in an interview. He also mentioned Cardano as the next candidate.

"Wall Street is greedy," is his assessment. "Every time Wall Street packages a new product to sell to consumers, you can guarantee there will be copycats if that product is successful. There would be no ETFs if the Bitcoin ETF had failed." The Bitcoin ETF is seen as a huge success after a weak start to trading.

For Solana, however, it is not so simple: its starting position is different from that of Bitcoin and Ethereum. It would have to overcome many regulatory hurdles. Bloomberg analyst James Seyffart also sees Solana as the next ETF candidate. But he cautions that it could be years before the spot ETF becomes a reality. The SEC calls Solana a security. An ETF is unlikely under these circumstances. But the agency has also changed its mind in the past.