The crypto asset manager has now filed for a spot Solana ETF after getting the ball rolling for a spot for XRP ETF and Litecoin ETF earlier in October.
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Memecoin launches and a sluggish Bitcoin price could continue to put downward pressure on the SOL token, which could be the next major crypto to receive a spot ETF.
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The crypto market maker’s forecast for Solana was based on a “blue sky” scenario, while its “bear” scenario only predicted a 1.4x increase in Solana’s price.
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Two industry pundits believe a change in SEC Chair is needed to even entertain the idea of a spot Solana ETF.
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CNBC contributor and crypto investor Brian Kelly said Solana is one of the “big three” coins, meaning it’s likely to be the next to receive ETF treatment.
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