ETF approvals for Altcoin, such as XRP and Solana (SOL), were expected to occur shortly after the SEC asked ETF publishers to withdraw their 19B-4 application.
However, the US government closures have had a negative impact on government agencies like the SEC. Like many other government agencies, the SEC will attack many employees and continue to work with limited staff.
This was said to delay the decision of the Altcoin ETF, awaiting approval, but Bitise CEO Hunter Horsley has issued an important statement about the Solana ETF.
Comparing Solana with Ethereum, Bitwise CEO said Solana has a more advantageous design for investors and has more advantages over Ethereum in the ETF market.
By staking ETFs, investors can make money by staking cryptocurrency without the hassle of staking. Ethereum was a major choice as it is the largest Shoop of-Stake network. However, Solana is gaining a rapid success with Ethereum.
Speaking at the Token2049 event in Singapore, Hunter Horseley said Solana has a faster staking process.
At this point, the well-known CEO said Solana is faster than Ethereum in the staking process, and Sol has an advantage over ETH.
Horsley pointed out that assets need to be able to return to investors quickly, and said delays in the Ethereum system are a major challenge for ETH.
Horsley said Solana’s speed and cost reductions will allow it to launch staking ETFs faster than Ethereum. If that happens, investors can more easily access SOL rewards through regulated funds.
Horsley recently said that if Solana launches a staking ETF before Ethereum, it will be a major turning point for the crypto market as investors have a safe and easy way to earn rewards from SoL.
The SEC is preparing to dominate several pending ETF applications in the coming weeks, including features such as Solana and Ethereum ETF proposals. In August, the SEC postponed staking decisions on two grayscale Ethereum ETFs and BlackRock’s iShares Ethereum Trust until the end of October.
*This is not investment advice.
