Matt Hougan, the chief investment officer at Bitwise Asset Management, recently shared his thoughts on cryptocurrency-based exchange-traded funds (ETFs). Hougan expressed optimism about the potential inflows of Bitcoin ETFs in the second half of this year. He also believed that the cryptocurrency industry would see a boost in the second quarter with the approval of Ethereum ETFs and other cryptocurrencies like Solana and XRP. These statements were made during an interview with Thinking Crypto.
When discussing the future of Solana and XRP spot ETFs, Hougan highlighted the importance of factors such as the launch of futures on platforms like CME and advancements in regulations. He suggested that these factors could play a significant role in the approval process and mentioned a potential timeline that could extend until 2025-2027.
Recent reports have suggested that Solana ETFs are likely to receive approval. In particular, GSR emphasized that while Cardano (ADA) and Ripple’s XRP are unlikely to receive ETF approval anytime soon, Solana (SOL) has a greater chance. Two key factors contribute to Solana’s position as a strong candidate for approval: its decentralization and the market demand for SOL. The recent registration of VanEck’s Solana spot ETF on June 27 further supports the growing institutional interest in the cryptocurrency.
According to the GSR report, Solana has outperformed its competitors in terms of decentralization and market demand, positioning it as the next likely candidate for ETF approval. The report also suggests that the impact on SOL could be significant if it receives approval.
It is important to note that the views expressed in this article, including those of the author and individuals mentioned, are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
In other news, VanEck has presented a proposal for a Solana ETF, leading to a surge in SOL price. The approval forecast for a Solana ETF provides further details on this development.