From Nasdaq: 2024-05-24 10:55:49

The approval of spot Ether ETFs in the U.S. has boosted the crypto market and may signal progress in crypto regulation. Analysts predict Solana ETFs could be next.

Bernstein analysts believe softer regulations may follow the Ether ETF approval, potentially influenced by the upcoming elections, especially if Donald Trump is re-elected, predicting increased support for crypto.

Approving a spot Ether ETF would be groundbreaking, establishing a non-Bitcoin blockchain asset as a commodity, potentially opening the door for similar treatments of Ethereum rivals like Solana.

CNBC’s Brian Kelly anticipates a spot Solana ETF and asserts Bitcoin, Ethereum, and Solana to be significant in the current cycle. Regulatory clarity could benefit companies like Robinhood and Coinbase.

Bernstein forecasts a potential price surge for Ether similar to the 75% increase seen after spot Bitcoin ETF approvals. Recent market optimism has already led to a 20% increase in the price of ETH.

Solana is currently rated as a Buy according to TipRanks’ Summary of Technical Indicators. Stay informed on crypto prices to make sound investment decisions.

Read more at Nasdaq: Solana: Spot Ether ETF Approval Paves Way for SOL ETFs