President of ETF Store Nate Geraci predicts that an ETF issuer will file for a combined spot Bitcoin, Ethereum, and Solana ETF in the coming months. This forecast comes amidst growing anticipation of the U.S. Securities and Exchange Commission (SEC) potentially approving Ethereum ETFs. The Chicago Board Options Exchange (CBOE) recently announced the launch date for five spot Ethereum ETFs, pending regulatory effectiveness. These ETFs will include the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF. To gain an early market advantage, most ETF issuers have plans to waive or discount fees for their products.
While the approval of Bitcoin and Ethereum ETFs has progressed, other crypto ETFs, like Solana, face regulatory challenges. Bloomberg ETF analyst James Seyffart believes that regulatory changes are necessary to monitor these assets for fraud and manipulation. However, crypto investor Brian Kelly has suggested that Solana could potentially be the next cryptocurrency to have a spot ETF in the United States. In a recent episode of CNBC’s ‘Fast Money,’ Kelly, who is also the founder and CEO of the BKCM Digital Asset Fund, discussed the potential of Solana joining Bitcoin and Ethereum as the next big cryptocurrency.
Recent data suggests a potential rebound for Bitcoin, despite a decrease in the number of wallet addresses holding BTC. Onchain analytics firm Santiment notes that mass liquidations could indicate a higher probability of a continued rebound. Additionally, Glassnode data shows a decline in the percentage of Bitcoin supply in profit, currently at 89.43%. However, other metrics paint a more bullish picture, including the dominance of over-the-counter markets and institutional accumulation of BTC. Large whale wallets, including ETFs and custodial wallets, have acquired a significant amount of BTC this year, indicating continued interest from institutional investors.
As the crypto market continues to evolve, the possibility of a combined spot Bitcoin, Ethereum, and Solana ETF becomes more likely. With the launch of several spot Ethereum ETFs on the horizon, investors are eager to see how these products will perform in the market. Despite regulatory challenges for other cryptocurrencies like Solana, industry experts remain optimistic about the future of crypto ETFs. Institutional accumulation of Bitcoin also signals growing interest from large investors, pointing towards a potential market rebound. Overall, the future of crypto ETFs looks promising, with opportunities for investors to diversify their portfolios with a range of digital assets.
