Rob Marrocco, vice president and global head of ETF listings at Cboe, believes that crypto ETFs other than Bitcoin and Ethereum are unlikely to emerge until the market and regulatory environments change.
Marrocco said in the ETF Store podcast on June 11 that market expectations for Solana and XRP spot ETFs are unrealistic in the short term, as there is no futures market for these cryptocurrencies, which was a major factor in approving Bitcoin and Ethereum spot ETFs.
He added that this means that the only viable way to bring the Solana ETF to market is through the Solana futures ETF first, and then paving the way for a spot ETF.
Marocco further said that even with the introduction of Solana futures ETFs, they would need to trade for a long time to establish a good track record. However, this process may take a considerable amount of time to bear fruit.
Cboe executive: Solana spot ETF not viable in short term without futures market or regulatory transparency
2024-06-12 01:42:30
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