After the US Securities and Exchange Commission (SEC) announced that a spot Ethereum ETF would soon be approved, Matrixport co-founder Daniel Yan speculated that we might see it next.
The prediction was made in a post on X (Twitter), where he analyzed the price of Ethereum in the coming months, where he suggested trading the SOL/ETH pair as the best option.
Because SOL has a huge chance of becoming the next crypto ETF, Yan revealed that SOL is up 12% as people expect more ETH ETFs within a week of BTC approval and there is no coin crowding.
“The market definitely hasn't priced this in…be ready for all kinds of spot altcoin ETF filings, especially Solana, if it's actually approved.
On the other hand, some experts believe that submitting a Solana ETF could be challenging because, unlike Bitcoin and Ethereum, Solana does not have the process overhead that could preclude ETF consideration.
However, Solana ETFs are not currently recognized in the United States. But alternatives like Grayscale Solana Trust (GSOL) and products like VanEck's Solana ETN and 21Shares' Solana ETF give investors the ability to buy SOL through derivatives.
And in the past week, SOL prices have risen by more than 23%, indicating increased interest and speculation. This impressive increase reflects investor confidence and expectations about Solana's potential.
Source: BeinCrypto