In a recent interview with Kitco News, Bloomberg Intelligence Research Analyst James Seyffart delved into the topic of Solana ETFs following the unexpected approval of spot Ethereum ETFs by the SEC. Seyffart highlighted the industry chatter surrounding the potential for a Solana ETF, citing Ripple CEO Brad Garlinghouse’s comments suggesting that Solana and Ripple’s XRP could be next in line for ETF approval.
Seyffart maintained his previous stance that a Bitcoin ETF would precede an Ethereum ETF, with a significant delay expected before other cryptocurrencies receive similar approvals. He pointed out that the SEC currently views Solana as a security, referencing ongoing legal battles involving Kraken and Coinbase where Solana was specifically mentioned. The classification of cryptocurrencies as securities or commodities presents a major hurdle for ETF approval.
Even if Solana is eventually classified as a commodity, another obstacle lies in meeting the SEC’s requirements for a market that can be effectively monitored to prevent fraud and manipulation. Unlike Bitcoin and Ethereum ETFs, which rely on CME futures for monitoring, a similar structure is not yet available for Solana.
Despite the current regulatory landscape, Seyffart predicts that a Solana ETF is unlikely to materialize before 2026. As always, this information does not constitute investment advice. To trade in over 300 cryptocurrencies, consider registering with Binance exchange with a 20% commission discount through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.