Matt Hougan, Bitwise Asset Management’s chief investment officer, recently shared insights on cryptocurrency ETFs. He expressed optimism about Bitcoin ETF inflows expected in the latter half of this year. Additionally, he believes that Ethereum ETFs and potential approvals for other cryptocurrencies like Solana and XRP will brighten the industry’s outlook in the second quarter. These remarks were made during an interview with Thinking Crypto.
Regarding the future of Solana and XRP spot ETFs, Hougan emphasized that the launch of futures on platforms like CME or advancements in regulatory frameworks could be pivotal for approvals. He projected a timeline possibly extending to 2025-2027.
Forecast for Solana ETF Approval
A recent report highlighted the likelihood of approval for spot Solana exchange-traded funds (ETFs). GSR’s forecast underscored that while Cardano (ADA) and Ripple’s XRP are unlikely to receive ETF approval soon, Solana (SOL) stands out with greater potential.
Two key factors bolster Solana’s candidacy for approval: its decentralization and the burgeoning market demand for SOL. Notably, the registration of VanEck’s Solana spot ETF on June 27 confirms growing institutional interest in the cryptocurrency.
“Solana has solidified its position among the top cryptocurrencies. With other cryptocurrencies either having or on the cusp of having a spot ETF, it seems inevitable that Solana will follow suit. The impact on SOL could be substantial,” the report highlighted.
The GSR report emphasized Solana’s leadership in decentralization and market demand, positioning it ahead of competitors. The data strongly suggests that Solana is poised to be the next cryptocurrency to secure ETF approval.
Disclaimer:
The views expressed by individuals mentioned in this article are solely for informational purposes and do not constitute financial or investment advice. Investing in cryptocurrencies carries inherent risks of financial loss.
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