Cboe Vice President Rob Marrocco stated on June 11 during an ETF Store podcast that Solana (SOL) and XRP ETFs are unlikely without market and regulatory changes. His remarks emphasize that these cryptocurrencies lack a futures market, a key factor in the approval of Bitcoin and Ethereum ETFs.
Marrocco argued that introducing a Solana futures ETF first could pave the way for a spot ETF, but this process could be lengthy. The alternative is a comprehensive crypto regulatory framework, which could expedite the process but requires legislative action.
VettaFi’s Lara Crigger concurred, noting the absence of a Solana futures market means less data for the SEC to assess. The recent FIT21 bill, passed by the House, aims to clarify regulatory roles between the CFTC and SEC, but is still pending Senate approval.
This regulatory clarity could significantly impact the feasibility and timeline for launching new crypto ETFs, highlighting the strategic importance of legislative support.
For more details, visit the ETF Store podcast.
