What’s Next for Altcoin ETFs?
“Bitcoin and Ethereum are not the only promising advancements we foresee for the crypto space. Solana has demonstrated significant adoption, continuing to mature and showcasing the potential of high-throughput, monolithic architectures,” Franklin Templeton stated.
Will Solana Lead the Way for Other Altcoins?
Franklin Templeton’s comments on potential Solana ETFs came shortly after the Franklin Ethereum ETF (EZET) began trading on the CBOE exchange, with zero transaction fees until January 31, 2025, reflecting their long-term confidence in this domain. This move suggests that if SOL Coin garners support from other major issuers like Ethereum, ETF applications for various altcoins could follow.
Key Takeaways for Investors
– VanEck and 21Shares have initiated ETF applications for SOL Coin.
– Franklin Templeton is optimistic about Solana and has introduced the Franklin Ethereum ETF with no transaction fees until January 2025.
– ETF applications for altcoins could increase significantly post the XRP Coin lawsuit resolution.
– SEC’s final verdict on SOL Coin ETF is anticipated by March 2025.
Conclusion
Bloomberg ETF analyst Eric Balchunas recently noted, “Remember there are flows after the launch, and then add ETH products; I’m sure Solana and others will follow. It will probably never end because the dam (with the ETH approval) has now broken.” The evolving landscape suggests a burgeoning interest and acceptance of altcoins, setting the stage for diverse investment opportunities in the crypto market.