What coin will be the next to speculate on ETF? Why 63.6% of people choose SOL

What token will be the next to speculate on ETFs? Why do so many people choose SOL? SOL launched a poll last Friday "After $BTC $ETH, what token do you think will be the next to speculate on ETFs?" As a result, 63.6% of people chose SOL. Today, the editor of this website will share with you what token will be the next to speculate on ETF? Why do so many people choose SOL? Let’s take a look below!

#After the passage of the ETH ETF, the market is indeed clamoring for SOL

• Geoffrey Kendrick, Head of Foreign Exchange and Digital Asset Research at Standard Chartered Bank: 2025 It may be possible to usher in the approval of cryptocurrency ETFs such as SOL and XRP.
• Anthony Scaramucci, founder and managing partner of SkyBridge Capital: We will be ready for the SOL ETF.
• BKCM CEO Brian Kelly said on CNBC: Solana may be the next cryptocurrency ETF.

Why do so many people choose SOL?

Obviously, it is because it has "consensus support".

The manifestation of consensus is simply the market value. Analyzing from this dimension, we open coingecko and look among the Top10 or Top5. SOL is indeed the most likely.

And what is the biggest problem with SOL?

2023/6/5, SEC In the Binance case, SOL was classified as a security

2023/6/6, SEC In the Coinbase case, SOL was classified as a security

It is judged to be a security, why is it difficult to pass ETF? What's the relationship between the two?

In the United States, securities are regulated by the SEC and need to comply with a series of regulations. They need to meet the SEC's registration and disclosure requirements, there may be trading restrictions, etc. The whole thing is quite strict.

For example: SEC=supermarket, cryptocurrency=fruit, ETF=fruit basket

• are considered non-securities, which is equivalent to labeling fruits as "ordinary fruits" , it is easy to be put into the fruit basket
• is considered a security, which is equivalent to labeling the fruit as a "special fruit", then it needs to meet more rules and requirements of the supermarket, so it is difficult to be put Enter Fruit Basket

A year ago, the SEC qualified SOL as a security. It is impossible to immediately turn around and say that SOL is not a security (people also want to save face), so a SOL ETF is impossible in the short term.

In addition, in the above two lawsuits, 18 types of tokens were judged to be securities, including BNB, BUSD, ADA, MATIC, ATOM, FLOW, and ICP. For the same reason, it is unlikely that these tokens will pass the ETF in the short term.

There is also good news - the FIT21 bill

On 2024/05/22, the FIT21 bill passed the U.S. House of Representatives with a vote of 279 to 136. The far-reaching significance of this to the industry is actually no less than the passage of the ETH ETF (although the market attention is average)

The focus of the FIT21 bill for us

• Clear the two aspects of digital currency Types and their regulatory agencies

Decentralized tokens = digital commodities, regulated by the CFTC

Non-decentralized tokens = securities, regulated by the SEC

• Definition of decentralization

No one person can control the entire blockchain network alone

No one owns more than 20% of the digital assets or voting rights

FIT21 has improved the entire digital currency regulatory system and expanded the industry’s freedom. Especially the two points excerpted above have a sense of paving the way for more ETFs.

If you want to know more about the FIT21 bill, you can read a16z’s article:

https://a16zcrypto.com/posts/article/fit21-why-it-matters-what- to-do/

Summary

The United States is famous for its fickleness. Now that it is pointed at the nose and said to be a security token, it does not represent Always defined as securities.

Going back to the original topic, who will be the third cryptocurrency to pass ETF, I think SOL is one of the most likely targets. As for whether it will be in the next year or the next three to five years, it depends on the progress of the subsequent FIT21 bill (the process for the bill to become law: House of Representatives - Senate - President's signature) and how to implement the specific definition of "digital goods" and "Securities".

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