Solana ETF to Follow Ethereum ETF Launch
Bloomberg analyst Eric Balchunas predicts a “dam breaking” effect after the launch of an Ethereum-based exchange-traded fund (ETF). He believes that the launch of a Solana ETF will follow shortly after, likely within the next week.
Balchunas says, “After the launch… I’m sure there will be ETH products, then Solana-based, and then… it probably never ends. The dam will be broken.”
The official launch of the Ethereum ETF is expected on July 23rd. During recent talks, the Securities and Exchange Commission (SEC) provided final instructions to Ethereum ETF issuers, setting the launch date for July 23rd. This event is anticipated to have a significant impact on the price of Ethereum, similar to what was observed with Bitcoin. Following its launch in January, Bitcoin reached an all-time high of $73,000 just three months later.
GSR Markets also believes that SOL is the most likely candidate for the next ETF, citing increased demand as the token has “established itself within the top three cryptocurrencies.”
