{"id":344090,"date":"2024-07-16T19:35:38","date_gmt":"2024-07-16T18:35:38","guid":{"rendered":"https:\/\/coinfomania.com\/?p=344090"},"modified":"2024-07-16T19:35:45","modified_gmt":"2024-07-16T18:35:45","slug":"ether-etf-could-lead-to-solana-etfs-and-more-crypto-products-balchunas-says","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/ether-etf-could-lead-to-solana-etfs-and-more-crypto-products-balchunas-says\/","title":{"rendered":"Ether ETF Could Lead to Solana ETFs and More Crypto Products, Balchunas Says"},"content":{"rendered":"\n<p>The new Ether (ETH) exchange-traded funds (ETFs) are stirring up excitement in the crypto community. ETFs make it easier for people to invest in Ethereum \u2014 the second biggest cryptocurrency, without directly buying it. Experts believe this move might open the door for ETFs focused on other cryptos, like Solana (SOL).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-balchunas-on-etfs-nbsp\">Balchunas on ETFs&nbsp;<\/h2>\n\n\n\n<p>Bloomberg senior ETF analyst <a href=\"https:\/\/coinfomania.com\/bloomberg-analyst-eric-balchunas-speculates-launch-of-spot-ether-etfs-by-july-2\/\">Eric Balchunas<\/a> thinks this is just the beginning. He says that we can expect more products based on Ether and Solana after the Ether ETFs. In his words, &#8220;<em>The dam has broken.<\/em>\u201d<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">haha, i&#39;m understand and appreciate the openness.. but keep in mind after launch there&#39;s flows and then add&#39;l eth products i&#39;m sure, then solana, and then.. it&#39;s prob never going to end. The dam has broken<\/p>&mdash; Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1812942525394788570?ref_src=twsrc%5Etfw\">July 15, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>We could start seeing the first spot Ether ETFs trading as early as July 23.<\/p>\n\n\n\n<p>Balchunas said the commission told the issuers to <a href=\"https:\/\/coinfomania.com\/sec-delays-launch-of-spot-ether-etfs-after-s-1-form-comments\/\">submit their final S-1 filings<\/a> (official documents with all the details about the ETFs) by July 16. They\u2019re aiming to start the new funds on July 23. These final documents need to include the fees that the <a href=\"https:\/\/coinfomania.com\/ether-etf-launch-timing-depends-on-issuer-response-says-sec-chair-gensler\/\">issuers plan to charge for their new crypto funds<\/a>.<\/p>\n\n\n\n<p>Balchunas also thinks that we could see ETFs that include different cryptocurrencies. When asked about this, he said, \u201c<em>100%. They\u2019re gonna go full Frankenstein.<\/em>\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-solana-could-be-next\">Solana Could Be Next<\/h2>\n\n\n\n<p>Solana is a hot topic because it\u2019s fast and has low fees. This makes it popular for developers and investors. The Chicago Board Options Exchange (Cboe) has already filed the 19b-4 with the U.S. Securities and Exchange Commission (SEC) to start <a href=\"https:\/\/coinfomania.com\/vaneck-files-for-us-solana-etf-claiming-sol-commodity-status\/\">listing Solana ETFs for VanEck<\/a> and <a href=\"https:\/\/coinfomania.com\/21shares-files-for-solana-etf-listing\/\">21Shares<\/a>, major investment managers. This happened on July 8, showing how fast things are moving in the crypto world. If Solana ETFs get listed, it will be a big win for Cboe. It will also attract more investors to the crypto market, which could make the market even bigger.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udea8 NEW: <a href=\"https:\/\/twitter.com\/matthew_sigel?ref_src=twsrc%5Etfw\">@matthew_sigel<\/a>, head of digital assets research at VanEck, suggests that the odds of a <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a> ETF approval are higher without Gary Gensler at the SEC.<a href=\"https:\/\/t.co\/A6k76iDGtG\">pic.twitter.com\/A6k76iDGtG<\/a><\/p>&mdash; SolanaFloor (@SolanaFloor) <a href=\"https:\/\/twitter.com\/SolanaFloor\/status\/1808508111826592248?ref_src=twsrc%5Etfw\">July 3, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>On CNBC\u2019s Fast Money show, trader Kelly pointed out, \u201c<em>You\u2019ve got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle<\/em>.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXcgEzCpM6yqF8LGFK3S6evpOCuqduLa8B_P74BjUUQ2LtX1NJm3nV1VDBvyfG4sDtB-DEPELIB8vQMVt4iywjnaSmb_vUPnwvSfJp4T4gBAlDeU55dCC4ASrRPFai7K3hkkAsU60vTTNDTcUzEZrtY5xwDnKHe4ajkL0Kv9n5tiRTtNMNWtpQ?key=yylOzFaz7HOe6b1CJ_5kew\" alt=\"\" style=\"width:545px;height:auto\" \/><\/figure>\n\n\n\n<p><em>ETH\/USDT Price Chart. Source: TradingView<\/em>&nbsp;<\/p>\n\n\n\n<p>Ether ETFs could help <strong>Ether\u2019s price<\/strong> go up.<\/p>\n\n\n\n<p>Data from TradingView shows that on July 8, the Ether (ETH) price started to go up again after falling for a whole month. It began to rise when it hit just over $2,800. At the time of writing, <strong>ETH<\/strong> is trading at a 1.24% uptick of <strong>$3,403.61<\/strong> <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">per CMC data<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new Ether (ETH) exchange-traded funds (ETFs) are stirring up excitement in the crypto community. ETFs make it easier for [&hellip;]<\/p>\n","protected":false},"author":69,"featured_media":344124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1808,5],"tags":[100,155,1392],"ppma_author":[2366],"class_list":["post-344090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-crypto-news","tag-etfs","tag-ether-eth","tag-solana"],"acf":[],"authors":[{"term_id":2366,"user_id":69,"is_guest":0,"slug":"ayanfe","display_name":"Ayanfe Fakunle","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/93a3a58ce298159a3ebee896ecd6a734?s=96&r=g","first_name":"Ayanfe","twitter":"","instagram":"","linkedin":"https:\/\/www.linkedin.com\/in\/ayanfe","user_url":"","last_name":"Fakunle","facebook":"","description":"Ayanfe Fakunle is an expert content writer, journalist, and editor at the intersection of crypto, finance, and web3. His mission is to make crypto accessible, engaging, and exciting for everyone."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/344090"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=344090"}],"version-history":[{"count":1,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/344090\/revisions"}],"predecessor-version":[{"id":344140,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/344090\/revisions\/344140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/344124"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=344090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=344090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=344090"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=344090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}