News View Non-AMP

Solana vs. Litecoin and Dogecoin: The Next Crypto ETF Debate

Published by
Elena R

BKCM CEO Brian Kelly recently predicted CNBC’s “Fast Money” that Solana (SOL) could be the next cryptocurrency with a spot exchange-traded fund (ETF) in the United States. Kelly’s prediction came against growing interest in cryptocurrencies and anticipation of the SEC’s decision regarding proposed spot Ether ETFs.

Brian Kelly’s Key Points

Kelly said that Solana is ranking alongside Bitcoin (BTC) and Ethereum (ETH) as one of the leading cryptocurrencies for this market cycle, but his bold prediction immediately faced some pushback from industry experts, citing several significant regulatory and market challenges.

First and foremost, the SEC has classified Solana as a security—a fact invoked in lawsuits against major exchanges like Coinbase and Kraken. As such, it complicates its pathway to approval. Unlike BTC and ETH, neither of which currently has a spot ETF but do have futures ETFs, Solana does not have this crucial market infrastructure. 

ETF analyst James Seyffart of Bloomberg Intelligence added that the crypto requires a Solana futures product listed on the Chicago Mercantile Exchange or a robust cryptocurrency regulatory framework by Congress before any spot ETF.

Current Status and Future Prospects

Currently, Bitcoin and Ether are the only two cryptocurrencies with approved futures ETFs in the U.S. The leading ETF issuers have also expressed little interest in launching ETFs beyond the two digital assets. BlackRock, a prominent ETF issuer, has stated no plans for launching ETFs for other altcoins, including Solana.

Despite those regulatory challenges, the demand for a Solana ETF seems strong. Seyffart thinks the interest from investors, outside of Bitcoin and Ether, would be enormous for Solana. However, these legal hurdles could make this a very long, rocky road.

Nate Geraci, president of The ETF Store, supported Seyffart’s assessment that there probably wouldn’t be a spot Solana ETF without the futures market and clearer rules. He said Congress needs to institute a legitimate regulatory framework for cryptocurrencies before such a product stands any chance of approval.

Contrarian Views

Not everyone agrees with Kelly’s prediction. Adam Cochran, a partner at Cinneamhain Ventures, believes that Litecoin (LTC) or Dogecoin (DOGE) might be the next cryptocurrencies to get ETF approval due to their simpler regulatory profiles. 

Both Litecoin and Dogecoin operate on a proof-of-work consensus mechanism, similar to Bitcoin, which may make their regulatory pathways less contentious.

The market climate is always fluid, and the SEC’s position could change with the continued regulation coming out. The decision for spot Ether ETFs could be a huge one, possibly paving the way for an approval of ETFs for other digital assets, including Solana.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

This $0.025 DeFi Project Is Gaining Real Traction — Will It Be the Next Big Crypto of 2025?

As the market warms up and new narratives begin forming around decentralized finance, one project…

April 21, 2025

DOGE to $4? Dogecoin Plots a Comeback, While $0.20 Rival Token Shows Prospects of a 14560% Surge

Dogecoin has shown a 9.74% daily growth to reach $0.2021 in trading value and experts…

April 21, 2025

Top Altcoins to Buy Before the Next Market Surge

With the crypto market showing signs of renewed bullish momentum, investors are looking to position…

April 21, 2025

XDC Network Price Prediction 2025, 2026 – 2030: Is XDC Price Good Investment?

Story Highlights The XDC Price today is . The XDC Network price could hit a…

April 21, 2025

This Altcoin May be the Next 100x Gem, Which Could Thrive in 2025

The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above…

April 21, 2025

Stellar Price Prediction 2025, 2026 – 2030: Will The XLM Coin Reach $1?

Story Highlights The live price of the Stellar crypto is . XLM price could reach…

April 21, 2025