This Crypto Asset Could Be the Spot ETF Candidate After Bitcoin and Ethereum, According to Investor Brian Kelly

May 23, 2024

1 minute read

The founder and CEO of an investment firm specializing in digital currencies is looking down the line for the next crypto exchange-traded fund (ETF).

In a new CNBC interview, BKCM LLC head Brian Kelly reacts to speculation that the U.S. Securities and Exchange Commission (SEC) could approve Ethereum (ETH) ETF applications as soon as tomorrow by naming which digital asset he expects to receive ETF approval next.

“I think you’ve got to think about Solana as probably the next one, right? Bitcoin, Ethereum, and Solana. Now, we have some clarity about what a security is and what isn’t, and they’ll be able to list a lot more crypto, which means a lot more trading for them. So, I think they’re the biggest beneficiaries from the change that’s gone on.”

According to Kelly, this crypto landscape in Washington D.C. is shifting rapidly, and in favor of the crypto industry.

“In general, what this has done is changed the landscape for crypto.

In May, Trump was asked a question about crypto. He said if you want crypto, vote for Trump. That clip went viral and actually changed things in Washington. We saw multiple votes over the last several days that were pro-crypto. The President said he was going to veto those, and then kind of backed off.

So, I think there’s been a sea change here in the regulatory environment, and it’s a welcome one from the industry.”

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