Four Cryptos Likely to Get a Spot ETF
Possibly all by the end of 2025.
Following on from the hype surrounding spot Bitcoin and Ethereum ETFs earlier this year, here are four altcoins with a strong chance of following suit.
Solana (SOL)
Ethereum’s most popular rival — particularly for memecoin enthusiasts in recent months — remains a strong candidate to receive approval for a spot Solana ETF.
Its coin has stormed back into the top 10 after collapsing to $10 in January 2023 and has remained in the top 5 since returning at the beginning of this year.
VanEck and 21 Shares filed the first paperwork (an S-1 form) in June to get SEC approval for spot Solana ETFs. More companies will follow suit, such as BlackRock, Grayscale, Bitwise, and others that currently offer spot Bitcoin ETFs.
One thing holding SOL back from being next in line is the administrative uncertainty surrounding whether it is a commodity or a security. However, there is the impetus to get the official word from the government with these filings.
If Solana isn’t assigned a standalone spot ETF, I am almost certain it will form part of a multi-crypto fund.
This will likely happen sooner rather than later, as Grayscale has applied to have its Digital Large Cap Fund (GDLC) converted to a spot ETF. The US SEC will decide on this matter within 45 to 90 days.
Solana accounts for about 4%…
