YEREVAN (CoinChapter.com) — Anthony Scaramucci, co-founder of SkyBridge Capital, anticipates that the U.S. Securities and Exchange Commission (SEC) will approve a Spot Solana ETF. His statements come after the agency’s approval of Bitcoin and Ether ETFs in 2024.
Brian Kelly, founder and CEO of BKCM LLC and a CNBC contributor, also predicted a spot SOL ETF approval in the future, further adding that Solana is part of the so-called “big three” cryptos, with the other being Bitcoin and Ether.
Will the SEC Really Approve a Solana ETH, Though?
Top analysts have shown enthusiasm for Solana’s ETF approval. However, the SEC earlier classified SOL as an “unregistered security” in its lawsuit against Binance and Coinbase, indicating significant regulatory challenges for the launch of a mainstream SOL investment vehicle.
To date, the SEC has classified Bitcoin and Ethereum as commodities, which simplified their path to ETF approval.
The regulatory landscape for Ethereum, however, remains uncertain. The SEC has previously sued Coinbase and Kraken for offering staking services, marking coins like SOL and ETH as securities. To navigate these complexities, issuers of spot ETFs for Ethereum had to exclude mentions of ETH staking from their filings.
No Demand For Altcoin ETFs Ahead: Bloomberg Analyst
Bloomberg crypto and ETF analyst James Seyffart expressed skepticism about the demand for altcoin ETFs. He specifically mentioned that he does not see much demand for altcoins like Litecoin and Dogecoin.
This sentiment suggests that while there is excitement about a SOL ETF, market demand could be a limiting factor.
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