Odds for approving a Solana spot ETF?

Abiky

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Quote from: GreatArkansas on March 06, 2024, 08:00:22 PM

For me yes, but I believe if this will happen, Solana needs to undergo in lot of struggles first before they will achieve this, as we all know Ethereum has already here for so long and Solana has some issues, especially about their downtimes remember they are once connected with FTX Exchange before, where could be a conflict in some regulation concern.

I can imagine how regulators would express skepticism against Solana. Especially when FTX had his hands tied to it. If Ethereum and XRP are facing issues with the approval of spot ETFs, imagine how hard it will be for Solana to get one. I believe the odds are very slim. At least for now.

We'd have to wait and see what happens after ETH gets its own ETF. With big investors showing huge interest into crypto assets, anything's possible. I sure hope Solana developers fix the network outages and once for all. Jump Crypto promises to solve this with the Firedancer node software, so maybe there's a bright future for the chain after all? Cheesy

GreatArkansas

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Quote from: Abiky on March 01, 2024, 06:18:56 PM

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What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

For me yes, but I believe if this will happen, Solana needs to undergo in lot of struggles first before they will achieve this, as we all know Ethereum has already here for so long and Solana has some issues, especially about their downtimes remember they are once connected with FTX Exchange before, where could be a conflict in some regulation concern.

tyz

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Quote from: Abiky on March 06, 2024, 05:00:38 PM

Of course. Reliability is a must. Especially if we want "Wall Street" to "pump" market prices all the way to the moon. As I've said before, the upcoming node software release for Solana (Firedancer), should fix the network's inherent issues once and for all. At least, that's the goal. I sure hope developers focus on quality instead of quantity to make Solana a real ETH contender in the long run.

In addition to the instability of the network, the auditors/approvers of an ETF will certainly also pay attention to the decentralization so avoid any manipulation. Decentralization is certainly given for Bitcoin and Ethereum. But not with Solana. The network is far too central and - as far as I understand it - nothing will change even after the upgrade.

Yogee

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I don't know man. They have gained popularity for sure but would any big US investor really become interested in backing up a network that could have a major outage for hours? I think that's the biggest roadblock they have to overcome if there is ever a plan to apply for spot ETF. I say XRP and Ripple has a higher chance compared to Solana.

bitzizzix

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Before the Solona spot ETF happens, the ethereum spot ETF will be next after the Bitcoin spot ETF. And what we have to remember is that getting our Bitcoin ETF approved took quite a long time and it was just delayed and delayed until it was finally approved, and the question is whether the ethereum ETF will also take as long as Bitcoin because previously the SEC was reported to be delaying its approval. And if the time comes at the appointed time, will they postpone it again and continue like that?
And even if there is a Solona ETF, I think it will take quite a long time and perhaps no one knows whether it will materialize or not. While there is potential after ethereum, Solona is the next coin, only time will tell.

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Quote from: Abiky on March 01, 2024, 06:18:56 PM

If Ethereum gets its own spot ETFs approved by the SEC, do you think the same will happen with Solana in the future? I mean, Solana is the most popular smart contract Blockchain after Ethereum. It rose exponentially in price over the past few months. If spot ETFs are approved, market prices will soar all the way to "Mars".

What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

Solana is attracting a lot of attention, not only because the price increase is very significant even though it is not yet in the bullish era. but also because the development of the given project is really progressing significantly. In fact, Solana has now really become a very popular Blockchain Smart Contract, because of its low fees, ease of use, speed, and several other advantages, which cannot be doubted.

And of course, this does not rule out the possibility of an ETF for Solana in the future. It's just that, as several members here have pointed out, this will definitely take time. I don't know whether this will happen in this bullish era because there is quite a hype, or in the future era. Of course, Solana will go through this process. And if it happens, and is approved, I'm sure that this will be a very significant trigger for the rise and development of Solana in the future.

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Quote from: Abiky on March 01, 2024, 06:18:56 PM

If Ethereum gets its own spot ETFs approved by the SEC, do you think the same will happen with Solana in the future? I mean, Solana is the most popular smart contract Blockchain after Ethereum. It rose exponentially in price over the past few months. If spot ETFs are approved, market prices will soar all the way to "Mars".

What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

I don't know if anyone would be able to put odds on it. But if Solano is approved to be bought via ETFs then that means a ton of other altcoins will be too. Knowing how reluctant the SEC is with crypto and exposing people to possible scams is not going to be an easy thing to get over. It took bitcoin a long time to get approved I would assume a similar path would be for these individual altcoins. Sounds like etfs are the next fad lol.

Abiky

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Quote from: tyz on March 05, 2024, 03:52:28 PM

I agree to this. I see no chance for the approval of a spot ETF for Solana in the foreseeable future. It is currently clear that it will not be easy even for Ethereum. Ethereum has been a very stable and established network for years. Solana, on the other hand, regularly makes negative news due to its instability. At times, the network even came to a complete standstill. An ETF must be able to buy or sell the underlying asset at any time. If it cannot do this, it is not liquid. I therefore see no future for a Solana ETF.

Of course. Reliability is a must. Especially if we want "Wall Street" to "pump" market prices all the way to the moon. As I've said before, the upcoming node software release for Solana (Firedancer), should fix the network's inherent issues once and for all. At least, that's the goal. I sure hope developers focus on quality instead of quantity to make Solana a real ETH contender in the long run.

For a coin that suffered dearly from the FTX implosion, and constant network outages, I'm surprised to see it among the top ranks in market cap. Anything's possible in crypto land, right? Cheesy

GeorgeJohn

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Quote from: husencoe on March 02, 2024, 07:44:16 AM

I believe Solana will also have the same opportunities after Ethereum. Of course because Solana is next in line, especially since Solana is very popular right now with it innovations and price movements. I think Solana is just waiting for a moment after the Ethereum ETF happens. But I still doubt whether Solana will be overtaken by BNB or not? Because BNB also has a big opportunity to become an ETF like Ethereum. I really can't wait for this moment to happen and see who advances to become an ETF first, between Solana and BNB.

what is happening now is just an indication to let us know that every coin have it on time for increment and it opportunity turn multiply that is why when I'm emphasizing On Coins I do let people know that we should invest in Coin that have a potential and also a reputation because if a coin have potential even though a bullrun season meet the coin it will not more value that is why whenever you are holding any altcoin you should make sure that the value of the coin will be something that will propagated in future.

Quote from: btc78 on March 02, 2024, 07:56:22 AM

It took quite a long time for sec to approve etf for bitcoin but just soon right away, we got news of etf ethereum. Do I think there is a chance that solana will also have etf? Yes, I think so. But do I think it will be soon? No. I don’t think so. I think it will be quite long. Bitcoin and Ethereum are obvious answers. They are the top most consistent performing coins out of all cryptocurrencies so it must be hard to determine which one comes after that.

All these coins have a potential the only thing is that people is value them very well and that is why some of them find it very difficult to Accelerate in price so therefore it is good to make a research or findings of any coin that you want to invest on before investing on them don't be listening to what people said about that particular coin but make a research and the follow your decision no matter how long it takes for you to hold the coin, just don't relate to anyone but hold your coin until it meet bullrun.

tyz

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Quote from: TastyChillySauce00 on March 02, 2024, 08:48:37 PM

Quote from: Abiky on March 01, 2024, 06:18:56 PM

What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

It will not become a reality. The stability from the blockchain probably one of consideration to add it as ETF, solana blockchain is not yet stable and it can also go offline anytime. It will be very embarrassing to be listed as ETF if solana blockchain can still down anytime.

I agree to this. I see no chance for the approval of a spot ETF for Solana in the foreseeable future. It is currently clear that it will not be easy even for Ethereum. Ethereum has been a very stable and established network for years. Solana, on the other hand, regularly makes negative news due to its instability. At times, the network even came to a complete standstill. An ETF must be able to buy or sell the underlying asset at any time. If it cannot do this, it is not liquid. I therefore see no future for a Solana ETF.

Abiky

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Quote from: TastyChillySauce00 on March 02, 2024, 08:48:37 PM

It will not become a reality. The stability from the blockchain probably one of consideration to add it as ETF, solana blockchain is not yet stable and it can also go offline anytime. It will be very embarrassing to be listed as ETF if solana blockchain can still down anytime.

Of course. The SOL blockchain must focus on stability/reliability if it wants to gather "Wall Street's" attention. Why would anyone want to use it in the first place (other than whales)? There is hope that the new "Firedancer" node software would provide a permanent fix to the network outages. At the time of this writing, the SEC delayed the application for Ethereum spot ETFs. Don't expect Solana to get one before Ethereum, though.

Nevertheless, the future is bright for the whole crypto/Blockchain industry. If SOL went from ~$20 to ~$120 a few months later, it could easily reach a new ATH with the spot ETFs. In crypto land, anything's possible. It wouldn't "hurt" to "hodl" a few SOL tokens, right? Cheesy

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wonder if recent outage with solana will become a concern for the ETF approval, but we will see ethereum ETF approval first if its getting approved then it means that the gateway for ETF for various altcoins are opened and maybe we can start thinking about sol being approved of its ETF, quite frankly XRP too is looking for company that could file ETF for them if im not mistaken and there will be surge of demand for ETF for various altcoin if these altcoin somehow getting approved.

Quote from: samcrypto on March 03, 2024, 07:48:01 PM

This will be the trend, and for sure many crypto will also apply for the ETF approval.
There’s a big chance for SOL to get the approval as well, this is the trend after the Bitcoin approval as many sees this as a big opportunity to attract more investors. SOL will have its own version of ETF, let’s look forward to that.

considering that ETF keeps being delayed whether its bitcoin in the past or its ethereum it gonna take much time until ETF get approved for other altcoin.
im finding it will implicate with the timeline of crypto cycle, but i guess some altcoin just want that opportunity to be exposed to a bigger capital out there.

Troytech

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Sol spot ETF is the last ETF approval there would be apart from maybe BNB and seriously I don't think the sec would want to food everywhere with lots of new ETF, it might well end with ETH. Or might never happen, the hate crypto and see what one ETF approval has brought to bitcoin it's on a race to new hight and the sec that so was against it won't believe they played a major role In bringing it to life, do ironical, so might never happen.

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Quote from: Abiky on March 01, 2024, 06:18:56 PM

If Ethereum gets its own spot ETFs approved by the SEC, do you think the same will happen with Solana in the future? I mean, Solana is the most popular smart contract Blockchain after Ethereum. It rose exponentially in price over the past few months. If spot ETFs are approved, market prices will soar all the way to "Mars".

What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

Its far to happen for now since imagine how many struggles before bitcoin ETF got approve? For sure there would be more hardship for Solana to get its ETF spot since for sure the other top coins above him will go first. But if it happens that ETH ETF gets approve then BNB will be the next one in line for that maybe for that we can see that SOL will be the next to get a spot. But let see if this will happen soon since crypto is fast growing asset and maybe regulators would find it great addition knowing how huge the market of this coins and they see a opportunity to earn a lot of money for accepting new crypto on their list.

samcrypto

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This will be the trend, and for sure many crypto will also apply for the ETF approval.
There’s a big chance for SOL to get the approval as well, this is the trend after the Bitcoin approval as many sees this as a big opportunity to attract more investors. SOL will have its own version of ETF, let’s look forward to that.

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I think that it is going to be the domino after BTC, ETH, SOL, BNB, and the list goes on with that after the approval that BTC has taken. But I guess this time that the SEC will be more strict on compliance because they know that this is a cyclic thing in the market.
They'd probably just add pressure to these projects when there will be approvals but with these projects, they don't have to get approved with spot but all they need to do is to make a news that they have applied for it.

bitzizzix

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Every coin approved by the ETF is good news because it will increase the price of the coin if approved, but we need to know that the ETF to approve Bitcoin takes a very long time and is also a long process.
So let's just wait for the news, because it's only a matter of time and we can't know for sure yet. And we can only hope that it can be approved quickly and not take a long time.

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Quote from: Abiky on March 01, 2024, 06:18:56 PM

If Ethereum gets its own spot ETFs approved by the SEC, do you think the same will happen with Solana in the future? I mean, Solana is the most popular smart contract Blockchain after Ethereum. It rose exponentially in price over the past few months. If spot ETFs are approved, market prices will soar all the way to "Mars".

What do you think? Will a Solana spot ETF become a reality? If not, why? What are the odds for approval? Your input would be greatly appreciated. Thank you.

Speculation is that we will see a lot of altcoin proposals approved for spot ETFs. And Solana will also receive attention because it is the leading altcoin in the market, but things will not be so smooth as we are currently focusing on ETH approval, with the current developments. At present, the general price increase and the excitement of the crowd are bringing a lively atmosphere.

Although I am not a supporter of SOL at the present time, I also believe that in the future it will still maintain its position.

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Quote from: tsaroz on March 03, 2024, 07:24:22 AM

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Quote from: Kelward on March 02, 2024, 11:24:59 AM

Quote from: oktana on March 02, 2024, 10:45:46 AM

I don’t think it would be but even if it would, I can’t say it will be happening any soon because Bitcoin which has been doing great as the head of them all was approved not too long ago. I think Bitcoin and Ethereum ETFs will go on for a while before anything else. But then, if there wanted to go on right now, don’t you think that the next spot after Ethereum would be a battle between BNB and Solana? In as much as I like Solana, BNB is a big name too.

Bitcoin ETF has paved the way for other ETFs to become realities, so there's no need for them to go through all the scrutinies that Bitcoin went through before it's approval, I'm quite optimistic that Ethereum, ETF will be approved in May, or not too long after that. When Ethereum, happens, I believe that the process will become less demanding for the other top altcoins to be approved, SEC can decide to space a time frame for ETF approvals.

Like you I also think that it can become a Battle between Solana and BNB, although I see BNB having an edge, but that is not taking anything away from Solana, both are good to go.

Trust me, there is big need to scrutinize all of them. Just because Bitcoin is a great cryptocurrency doesn’t mean that every other cryptocurrency is good too. Of course I am not necessarily talking about BNB nor Solana but these people need to do their job to be sure they are approving something that they find valuable for the public. If they want to follow the trust of Bitcoin, they could have just approved top 20 cryptocurrencies ETFs but that can’t be the case.

When the SEC and people accept crypto as ETF, it's not difficult to include every popular crypto as ETF. Solana do have some controversies but that haven't stopped people from investing on it and using the network. The ETF on the other hand are just for investment, the people investing in ETF don't care much about the technology but the potential price boost for the ETF. If the SEC makes necessary arrangements for ETH to be listed as ETF, it would be an easy way ahead for Solana. ETFs are approached by the investment firms and SEC either gives them approval or ask for clarification. Investment firms would surely be forwarding a Solana ETF sooner.

Those controversies matter bro. Who said that people who invest don’t care about the technology? For what I know, it is even the technology that makes people want to invest, because they find what you are doing to be valuable and can be worth even more overtime. And it’s all connected because something that doesn’t have a good technology can’t even sell and would result in a loss. So there’s no way these things aren’t considered.

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Quote from: Adreman23 on March 03, 2024, 01:57:07 AM

In my opinion, it seems that continuous approval for spot ETF by the SEC will likely include the top 10 or top 5 cryptocurrencies. However, before that happens, the second largest cryptocurrency, ethereum, needs to be approved first before other altcoins, because no other crypto can be approved after the bitcoin spot ETF as they might overshadow ethereum. Regarding solana spot ETF, this could potentially be approved by the SEC because it's a good project with a large community supporting it. However, it will take time, as even bitcoin took a long time to be approved, and the same might apply to other top altcoins.

I don't think this is the right time to think about other altcoin etf approval beside eth. Even they have plan to include other major altcoin etf application it will take years to happens. We haven’t saw any application yet and we know how lengthy the process of approve etf application. Even bitcoin saw its approval at its final deadline.

Topic: Odds for approving a Solana spot ETF? (Read 225 times)