A Solana ETF is on the way after Ethereum’s exchange-traded fund launches next week, one analyst says. Indeed, Bloomberg’s Eric Balchunas has noted that the ETH product is set to kick off a wave of new crypto-based ETFs in the United States, saying that the “dam is broken.”
Ethereum is just the second crypto-based ETF in the country. Moreover, filings reveal that the product is set to officially launch on July 23rd. Now, experts are predicting what asset could be next in line, with SOL being a popular contender to get the next ETF approval nod from the SEC.
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SOL to Lead Wave of Crypto ETFs After ETH Launch, Expert Predicts
One of the most trusted ETF reporters has recently highlighted what could be next for crypto. Indeed, a Solana ETF is predicted to be next in line after Ethereum launches next week. Balchunas took to X (formerly Twitter) to speak on his expectations.
The Bloomberg reporter said, “Keep in mind after launch there are flows and then add’l ETH products I’m sure, then Solana, and then… it’s probably never going to end. The dam is broken.”
The SEC has sent final instructions to Ethereum ETF issuers in its latest talks. That has placed the ETH product launch date on July 23rd. It should have a massive effect on the asset’s price, similar to Bitcoin. Launching in January, BTC reached an all-time high price of $73,000 just three months later.
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Crypto exchange Kraken has already noted that the Ethereum ETF is a “rising tide,” that will lift all boats. However, the crypto market is interested in what asset could follow suit. According to Balchunas and other experts, Solana has the most potential
Earlier this year, GSR Markets released a report on the next likely ETF asset. They concluded SOL was most likely due to decentralization and overall demand. Moreover, they noted that the token has “cemented itself as part of crypto’s Big Three.”