Crypto expert Brian Kelly, a regular on CNBC’s “Fast Money,” got the crypto world buzzing with his prediction. Kelly said Solana (SOL) could be next in line for a special type of investment fund called a spot ETF in the US.
This isn’t surprising since Kelly is a big name in crypto, running his investment firm for digital currencies and even writing a book on how Bitcoin and others could change finance. During “Fast Money,” Kelly pointed to Solana, along with Bitcoin and Ethereum, as the top dogs in crypto. His comments sparked a lively debate among people who follow the crypto market closely.
Crypto Guru Predicts Solana’s Uptrend?
A well-known crypto investor named Brian Kelly, who also appears on CNBC’s ‘Fast Money’ show, recently said that SOL might be next in line to get a special kind of investment fund called a spot ETF in the US.
Brian Kelly, a financial analyst and television personality, is widely recognized for his deep understanding of cryptocurrencies and blockchain technology. He founded and leads BKCM LLC, an investment firm dedicated to digital currencies.
Kelly often appears on CNBC, where he offers analysis and commentary on financial markets, focusing especially on cryptocurrency trends and investment strategies. He authored “The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World,” a book exploring the potential of Bitcoin and other digital currencies to transform the financial industry.
Is Kelly’s Prediction Right?
Not everyone agrees with Kelly’s optimism. Nate Geraci, president of The ETF Store, argued that a spot Solana ETF won’t happen unless there’s a Solana futures product on the Chicago Mercantile Exchange or Congress establishes a strong regulatory framework for cryptocurrencies.
James Seyffart, a Bloomberg ETF analyst, also expressed caution. He said that a ETF would need a Commodity Futures Trading Commission (CFTC)-regulated market, which he thinks could happen in a few years. Seyffart mentioned that such an ETF could have high demand, next only to Bitcoin and Ether. However, he also noted that the Securities and Exchange Commission (SEC) previously considered Solana a security in lawsuits against Coinbase and Kraken, which might complicate future applications.
Contrary to Kelly’s and Seyffart’s views, Adam Cochran, partner at Cinneamhain Ventures, believes either Litecoin (LTC) or Dogecoin (DOGE) would be more likely candidates for the next spot ETF.
The Solana Based Meme Coins and meme coin market is inherently volatile. While these projects hold promise, thorough research and a cautious investment strategy are crucial.
Also Read: SEC Reviews Ethereum ETF Applications
