News - Why a Solana ETF is unlikely

By Mike Hesp

Why a Solana ETF is unlikely

Solana (SOL)

After Bitcoin and Ethereum, the biggest demand for a spot ETF is for Solana, says Bloomberg analyst Seyffart. The odds, however, are slim.

The ink of the Ethereum ETF applications has barely dried up before the next wave of endorsements is already stirring up rumors.

Solana is being touted as a promising candidate.

Bloomberg analyst James Seyffart treasure the demand for a Solana Spot ETF high in: "I think an SOL ETF would see the most demand compared to other digital assets (apart from BTC and ETH)."

However, he does not believe there are great opportunities. Ongoing proceedings against some crypto providers show that the SEC clearly categorizes Solana as a security. Authorization would therefore be a "very bumpy road."

Crypto expert Adam Cochran also rates the chances low. According to him, Litecoin and Dogecoin, both proof-of-work currencies, are more likely to succeed in the short term.

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