Topic: After the Ethereum ETF(s), which altcoin will be next? (Read 371 times)

I largely agree, however the ETFs in the case of Bitcoin also drive interest of "everyday people" into the crypto space again, like one can see for example in a Google Trends query that in early 2024 when the ETFs in the US got approved, the search interest for "buy bitcoin" was much higher than normally.

My general opinion is that the ETF influence is neutral. They benefit "Big Money" more than the Average Joe, but on the other hand, Average Joe got another opportunity to enter the crypto space relatively early due to the way the "attention game" works. And financial products in general tend to benefit the elites, not the Average Joes, so the Bitcoin ETFs are nothing special either.

It's interesting to speculate what could really happen in this case.

On one hand, you already have some Solana-based financial products. The ETC Group Physical Solana is perhaps the closest one to an ETF, and I don't remember hearing news about them halting the trading when Solana had outages.

But on the other hand, an ETF legally has to be always 1:1 backed as the coins are the property of the customer/investor, and thus in these situations they probably can't offer new shares, at least if the outage takes more time than a few hours. While the ETC group product also advertises itself as being 1:1 backed, the coins are property of the custodian, not the buyer. So legally I imagine it's easier to simply continue to offer the product to new buyers and taking the risk temporarily.

Of course it's possible that Solana fixes its problems until this ETF is approved (if it is) in 2025 or so. But it's a risky move, I agree.

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Regarding the question of the poll, currently there are no other news about other altcoin ETFs. All "news" about Ripple, Doge, LTC, Chainlink and so on I have reviewed are pure speculation.

"Wall Street" knows what game it's playing at. After all, crypto is where the money is. First it was the Bitcoin ETFs, then the Ethereum ETFs, and now Solana ETFs. Institutional investment companies will then move on to Litecoin, Ripple (XRP), and other cryptocurrencies with a large market cap. Does it really matter what they do? Who will ultimately benefit from this move are the "Elites". Not everyday people. In fact, ETFs will make crypto more centralized. Institutions will now hold most of the circulating supply, allowing them to manipulate the market as they wish.

You can bet Solana ETFs will be a major disaster if another network outage takes place. Trading will halt for a while, resulting in a temporary plunge in market price. VanEck should've waited until Solana was stable enough to make its move. But money talks, right? If by any chance developers fix Solana's inherent issues (which I doubt), then nothing should stop the coin from going to the moon. It survived the FTX crash, so anything's possible. Let's see how big of a success Ethereum ETFs will be. If all goes well, altcoin season will arrive faster than we've thought.

Ngl, LINK ETFs are not coming anytime soon. A month ago, my stance on Solana etfs were net negative but now that I think of it, it certainly can get there. Sometime this year, solana was comfortably sitting as the 3rd most biggest crypto and for a project with many big players and  millions of users, it might get the chance even if I doubt it. Imo, the next altcoin ETFs are going to come much later; down the road. Solana, LINK, and others are just not ready yet.

Quick question: Do you think SEC will approve Polkadot ETFs now that some details have been revealed about how the polkadot treasury is getting squandered? That's what I thought. Solana too has its problems.

I think this condition gives a positive sentiment but they still have control over it with the crypto ETF outflow continuing of course there is a lot of speculative pressure if there is pressure on the SEC, I think Solana has the potential to go there because between SOL and ETH which is likely to give Injection of funds with short term and it provides space although there is a price appreciation zone but it is attached to it but I think Solana will do better in the future.

Some of the asset managers have already submitted for SOL ETF and i am pretty sure it is only because they wants to be the first mover. I really doubt that SOL ETF will be approved. In my opinion, LINK is the suitable candidate for the possible ETF approval after ETH. SOL's demand and volume is fake mostly. On the other hand Link is going to be the universal gas token for the tokenized industry. If SOL ETF got approved other layer 1 like DOT, TON, KASPA can be the next candidate.

Arguably the growth and innovations in solana does justify the ETF and compensate for its weak point like the one probably you mentioned, there has been many cases where solana is having power outage, but i suppose there's ongoing solution already being tested.

what entice me is the recent implementation of Solana's blinks (https://solana.com/docs/advanced/actions) which allows user to trade solana token from their social media, though it can be double edged sword, but they are rather adamant in pumping out innovations it seems, so some big companies sees the positive thing in that is to be expected. also, the fact that solana is the coin that gained massively in the early bullrun means it is a good enough coin to attract investor, this probably the key reasoning why these companies willing to file ETF for solana. I mean if compared to other altcoin, it does make sense doesn't it? the only coin that's above solana in term market cap that got no ETF yet is BNB yet this coin always being called out as centralized and owned by binance, so there's no possibility of ETF for this coin and the next best option is SOL.

I am not sure if SOL would work though, feels like it is not going to end up working all that much. Don't get me wrong, it may not be all that crazy to speak but at the same time we are talking about something that will get some time to adjust. SOL is a bit more centralized, and there is a team that can freeze it anytime they want, which they have done before.

I do not know if there should be ETF of something that is heavily centralized like that. Sure they do not revert or anything or steal, but they still have some control over it and I dislike that idea in an ETF. I do not mind it when it is crypto, I can buy SOL directly to invest, but when we are talking about getting an ETF of it, I feel like that is not a good idea.

There are news for this thread:

Today, VanEck filed for a Solana ETF in the USA.

On June 20, 3IQ filed for a Solana exchange traded product in Canada, but it seems to be an ETP, not a spot ETF (so investors have an additional counterparty risk).

This does not mean that we have a winner though. Technically not even the US Ethereum ETFs are completely approved (although the Hongkong and Bermuda ETFs are).

PS: I wonder what happens with an ETF if Solana network collapses.

Bitcoin and Ethereum happens to be the most popular coin in the crypto space.And currently Ethereum is the leading altcoins,and your question is,After the Ethereum ETF(s), which altcoin will be next?I think Solana and BNB,the coinmarketcap has listed it that these two coins also have potentials but not as Bitcoin and Ethereum.Most Bitcoin enthusiast may want to invest on altcoins and if it's not Ethereum, Solana and BNB they don't see any other altcoins worth investing because they find these three altcoins reputable and trustworthy.

I would say 99%. As I wrote in the first post, the 19b-4 filings from the Ethereum applicants are approved, which do however not register the definitive financial products (the ETFs themselves) but authorize rule changes for the exchanges where they will trade.

But the S-1 forms, which register the product (ETF) itself, should be approved at most in a few months, more likely in a few weeks. Here there's some speculation about a potential date (Bloomberg expert Eric Balchunas says it could be around July 4).

The Ethereum spot ETFs in the other countries (Bermuda, Brazil and Hong Kong/China) are of course already trading some time, so the thread title is not wrong

I dunno if it's really about "negative"/"positive". It's the interpretation about the Howey test applying to ETH or not. Here's a quite good article with a bit of depth, arguing that the ICO ETH tokens may have been "securities", but as now ETH has become an utility token and the ICO is long over, this does no longer apply, and PoS in the opinion of the writer doesn't change that. So this does actually not mean that you can now launch a new crypto ICO and then it will magically escape the "security" categorization. ETH has only chances to escape it because the ICO was long ago.

There's of course a lot of speculation if there was political pressure to the SEC of course but there's nothing proven afaik. There's also still the theory that the S-1 approval could be delayed several months until the SEC concludes the investigation if ETH is a security or not, but I think this possibility is quite low.

I think there will be a possibility for the Solana ETF to be approved after Ethereum but remember that ETF approval takes a long time like that of Bitcoin and Ethereum in which Bitcoin ETF has been approved but it becomes possible after a long period.

Solana is getting more and more successful and is considered more successful after Bitcoin and Ethereum so in my opinion Solana has greater possibility for ETF approval. Solana has been performing well for a long time and its success is real but many people are still in doubt about Solana success so it is a personal matter but I think Solana will become better in the future.

It may not be a robust Blockchain, but it's still the top smart contract platform after Ethereum. Investors are interested in Solana, despite its inherent issues. With the upcoming Firedancer node upgrade, network outages will become a thing of the past. At least, that's what the community hopes for.

As for XRP, I think it'll have a high chance for an ETF approval now that the doors were opened for ETH. The latter was often flagged as a "security" by the SEC. If it got the green light from the regulating entity, what makes you think the same won't happen with XRP? If giants like BlackRock and VanEck show interest in XRP ETFs, I don't see why it can't happen in the first place.

And Litecoin is as close to Bitcoin in terms of economics and network structure (often named "Silver to Bitcoin's Gold"). So the cards are on the table for a possible ETF approval in the US. I know LTC isn't as active as other blockchain projects, but it's still one of the fastest and cheapest cryptocurrencies in the world. Its latest addition is the Mimblewimble privacy protocol. People haven't noticed it's true potential yet. But they will sooner or later. Just keep buying, and holding, and forget about the rest.

      Is the Ethereum spot ETF 100% approved? Isn't it like Gensler is still negative here on ETH? It seems like he was forced because right now his acquaintance with ETH remains,
which is something that is still negative on his part.

     Now, regarding the question of which crypto will be next in the spot ETF, I have no idea at the moment, so let's let time decide on that matter, although all of those are really
potential in the long-term.

I agree somewhat that the Solana outages are a factor which could influence a potential ETF approval. However, it's one of the two top coins (together with LTC) regarding adoption by other ETP (not ETF!) providers, at least for the market potential this doesn't seem to be the case. However, it could generate doubts for the authorities to consider it really a decentralized cryptocurrency.

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Some external opinions from recent weeks/months to help those who still didn't vote

JP Morgan casts doubt about SEC approval of Solana and other crypto ETFs

(Summary: They think the SEC will maintain its policy that almost all altcoins besides BTC and ETH are securities, until specific legislation is passed.)

Ripple CEO Expresses Support for XRP ETF as Standard Chartered Forecasts 2025 Launch

(Summary: Standard Chartered, a British investment bank, thinks that it's realistic that until 2025 a XRP ETF will be approved, maybe also a Solana one. I think they're referring to the US, although of course being an UK institution the statement could also be referred to Bermuda or Guernsey where the "British" ETFs trade.)

Expert Insights: Evaluating the Likelihood of Approval for the Dogecoin ETF

(Summary: Crypto trader Andrew Kang thinks there's about 30% of likelihood of a Dogecoin ETF in the US, also because of its decentralized nature. This is already from March though.)

Is Litecoin Next? Proposed ETF Could Bolster Crypto's adoption

(Summary: Charlie Lee believes that a LTC spot ETF would be approved. Well, not so surprising actually )

Actually I think after the ethereum ETF solana and bnb is likely to be the next due to their marketcap, bitcoin has the highest marketcap followed by ethereum and after ethereum solana and bnb is the next in line. Moreover I think their marketcap is what determine the coin that will be next after ethereum, however in terms of popularity I think solana is next to ethereum but in terms of market cap I think after ethereum bnb is the next.

It is because that's the trend and hype today. The institutions have joined the game and it's not just the only possible next etf that we'll see.
There's XRP, BNB, and the list continues. It's not about their robust ecosystem or whatnot, it's the matter of how much money and market cap it has got.

Why would Solana get an ETF? Their ecosystem isn't robust enough. Even their DeFi ecosystem is even lower than a Layer 2 on Ethereum. I know Solana has come a long way as a project and has achieved great things as an ecosystem but it's still far from mature and I don't think we would be gettingaby more ETFs approved in the near future. I estimate at least six months or most likely over a year until we'll see more ETFs being approved for crypto.

XRP? Same XRP that has a court case with the SEC and is still not in a good legal standing?

Litecoin is not a top tier crypto project anymore. I reckon it would be lower on ETF prospects.

Obviously, the Solana ETF will come up next. Many industry players are already taking about this. After all, Solana is as close to Ethereum as it can be in terms of popularity and mainstream adoption. Once Solana ETFs are approved, I think an XRP ETF will come up next. Lets not forget about a Litecoin ETF, too.

Each approval will have positive effects over a coin's market price. At least, in the long-term. What I want to see is how well will these crypto assets perform in comparison to others. I'm talking about the ability to handle large network load, etc. If Solana's network outages persist, investors will move away to other chains. Money talks, right? Hopefully, the ETFs won't move crypto away from its original purpose.

Just to remind you all: The poll is not necessarily about the next ETF approval in the US / by the SEC. It's about an ETF approval in any country. Your argument is very US-specific, but of course it is very possible that the US will be the place where the next altcoin ETF is approved, just because the SEC has demostrated that it has abandoned the "only Bitcoin (and maybe decentralized coins) are not securities" policy.

There are however other good arguments against BNB, like that it's too dependant on the exchange Binance. Apart from stablecoins and tokens, which are not part of this poll, it's clearly the most centralized one of the top altcoins.

I don't think that's a good argument. First, older and established blockchains should be careful with adopting too many novelties. The blockchain space is already quite mature and I think you could say the same thing about most other coins too - there are gradual improvements of course, like improved efficiency, but no major breakthroughs (at least in L1s). Second, LTC follows the Bitcoin development closely, and the MWEB tech incorporated into it in 2022 is a very important improvement, about as important as Taproot for Bitcoin or the PoS upgrade for ETH.

The most obvious one is Solana and won't be surprised if there is announcement that someone has submitted an application for it, Polygon and Avalanche also has potentials to be the next one but my vote goes to Solana. $BNB tokens should be the next but with US throwing everything against Binance, BNB won't be in their good book for now