Experts are convinced that Solana will move the crypto space forward

BTC-ETF issuer Franklin Templeton released a statement saying that Solana is a very significant development for the crypto industry. SOL has gained widespread adoption in digital assets, its blockchain handles technological complexities and shows significant potential for the development of high-performance architectures, experts said.

“In addition to bitcoin and ether, there are other interesting and important developments, such as Solana, that we believe will drive the crypto space forward,” the firm said in a statement.

Interestingly, VanEck and 21Shares had earlier submitted applications to the regulator to launch a SOL-based ETF.

Bloomberg senior analyst Eric Balchunas believes the SEC may register the Solana-ETF in March next year. VanEck’s head of digital asset research Matthew Siegel holds a similar view.

Earlier, Matrixport co-founder Daniel Yan spoke about the likelihood of launching a spot exchange-traded fund based on SOL. Standard Chartered’s top manager Jeffrey Kendrick also spoke out about the possibility of a Solana-ETF hitting the market next year.

“For other coins like SOL and XRP, the markets will also look forward to seeing their own ETF, although it’s likely to be a 2025 story rather than 2024,” Kendrick noted.

Ripple CEO Brad Garlinghouse claimed that Solana is the next contender to create a new spot fund. And Galaxy Digital CEO Mike Novogratz talked about SOL’s impressive recent performance. The cryptocurrency has risen 700% over the past year, from $20 to $170, so it makes sense that the coin would be next in line to launch an ETF.

Would you agree with that?

ETFs, although that’s probably a 2025 story, not 2024,” Kendrick noted.