Speculation about the Solana ETF:
Following the successful launch of Ethereum ETFs last week, which sent the weekly trading volume of cryptocurrency funds to its highest level since May, exceeding $14.8 billion, speculation has emerged about what could happen next.
Solana has been floated as a potential ETF candidate, with VanEck and 21Shares each filing separate applications for Solana ETFs in the US.
Despite optimism about Solana as a faster and cheaper alternative to Ethereum, the absence of Solana futures on the CME represents a major impediment to the SEC's ability to approve the Solana ETF.
This assumption was reinforced by the statements of fund manager Franklin Templeton, who described Solana as developing in an exciting and significant way that would push the field of cryptocurrencies forward.
Solana represents about 3% of the total value of the cryptocurrency market, with a market cap of $84 billion, according to CoinGecko data.
However, it does not appear that new cryptocurrency ETFs, other than Bitcoin and Ethereum, will emerge in the near future.
