{"id":79298,"date":"2024-05-23T04:07:39","date_gmt":"2024-05-23T08:07:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79298"},"modified":"2024-05-23T04:07:42","modified_gmt":"2024-05-23T08:07:42","slug":"brian-kelly-predicts-solana-next-for-spot-etf-approval","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/brian-kelly-predicts-solana-next-for-spot-etf-approval\/","title":{"rendered":"Brian Kelly Predicts Solana Next for Spot ETF Approval"},"content":{"rendered":"\n

Brian Kelly predicts Solana could be the next cryptocurrency to receive US spot ETF approval<\/a>.<\/p>\n\n\n\n

\"Brian
Brian Kelly Predicts Solana Next for Spot ETF Approval<\/figcaption><\/figure>\n\n\n\n

Brian Kelly, a renowned CNBC contributor, recently speculated that Solana (SOL), a prominent altcoin, might be the next cryptocurrency to be approved for a spot exchange-traded fund (ETF)<\/a> in the United States. Kelly anticipates that such approval will ultimately occur.<\/p>\n\n\n\n

Kelly, the founder and CEO of BKCM LLC, designated Solana, Bitcoin (BTC), and Ethereum (ETH) as significant participants in the ongoing cryptocurrency cycle. He claims Solana will be the subsequent cryptocurrency to receive a spot ETF in the United States, following the largest cryptocurrency and the largest altcoin.<\/p>\n\n\n\n

Brian Kelly, a renowned CNBC contributor, recently speculated that Solana (SOL), a prominent altcoin, might be the next cryptocurrency to be approved for a spot exchange-traded fund (ETF) in the United States. Kelly anticipates that such approval will ultimately occur.<\/p>\n\n\n\n

Kelly, the founder and CEO of BKCM LLC, designated Solana, Bitcoin (BTC)<\/a>, and Ethereum (ETH) as significant participants in the ongoing cryptocurrency cycle. He claims Solana will be the subsequent cryptocurrency to receive a spot ETF in the United States, following the largest cryptocurrency and the largest altcoin.<\/p>\n\n\n\n

In light of the effective introduction of spot Bitcoin ETFs earlier this year, Kelly's remarks coincided with a period of increased optimism regarding the approval of spot Ethereum ETFs.<\/p>\n\n\n\n

The possibility that the US Securities and Exchange Commission (SEC) will approve spot Ethereum ETFs has been signaled for some time, causing the cryptocurrency market to experience a substantial price increase.<\/p>\n\n\n\n

Kelly expresses confidence that the SEC will ultimately grant approval for a spot Ethereum ETF, despite the absence of a specific timeline. This sentiment is consistent with market expectations.<\/p>\n\n\n\n

Although future potential ETFs for Ethereum and Solana are viewed with optimism, interest in alternative cryptocurrencies remains relatively low. BlackRock's largest asset management firm's director of digital assets<\/a>, Robert Mitchnick, remarked that their clients have little interest in Ethereum and even less in other altcoins.<\/p>\n\n\n\n

BlackRock affirmed in January that it had no intention of introducing a spot ETF for XRP in accordance with this.<\/p>\n\n\n\n

Solana's multiple exchange-traded products (ETPs) are already listed on multiple exchanges in Europe, suggesting that the company has attracted institutional interest. The regulatory environment in the United States, on the other hand, is more stringent, preventing the introduction of such an ETF.<\/p>\n\n\n\n

The SEC sued the Coinbase and Binance exchanges last year, alleging that Solana was a security. The Solana Foundation vehemently opposed this, arguing that the Blockchain is a decentralized network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. According to experts, the SEC's approach complicates the legal and regulatory landscape for spot Solana ETFs in the United States.<\/p>\n\n\n\n

The legal standing of Solana may have a substantial bearing on ETF approval anticipations. In addition to the classification of Solana as a security by the SEC, the lack of a futures-based ETF for the altcoin in the United States adds to the complexity of the situation.<\/p>\n\n\n\n

The uncertainty surrounding Solana's prospective approval for a spot ETF is exacerbated by the aforementioned factors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brian Kelly predicts Solana could be the next cryptocurrency to receive US spot ETF approval. Brian Kelly, a renowned CNBC contributor, recently speculated that Solana (SOL), a prominent altcoin, might be the next cryptocurrency to be approved for a spot exchange-traded fund (ETF) in the United States. Kelly anticipates that such approval will ultimately occur. […]<\/p>\n","protected":false},"author":36,"featured_media":79304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6880,19672,275],"class_list":["post-79298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-spot-etf","tag-brian-kelly","tag-solana"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/brian-kelly-ft-1-compressed.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79298"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79304"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}