In the wake of the spot Bitcoin and Ethereum ETF approvals, there’s been a lot of speculation about which crypto might be next. Already, a handful of names have been suggested, including all of the usual suspects: XRP, Solana (CRYPTO: SOL), Cardano, Litecoin, and Avalanche.
Of these, Solana has the best chance of getting a spot ETF. In fact, this could happen as early as January 2025. From my perspective, there are two key factors that make this likely to happen.
In terms of market cap, Solana ranks fifth among all major cryptocurrencies. That’s a huge determining factor, because market cap can be useful as a proxy for investor demand. As a general rule of thumb, Wall Street isn’t going to launch a product if there isn’t sufficient demand for it, so it’s worth looking into how much demand is coming from both retail and institutional investors.
Source Fool.com