With the increasing likelihood of crypto ETF approvals, analysts are speculating that Solana might soon be considered for a spot ETF, following the anticipated approval of a spot Ethereum ETF. The recent buzz around the potential approval of a spot Ethereum ETF has not only driven Ethereum's (ETH) price upward but also sparked significant interest in Solana (SOL) as a prime candidate for the next crypto ETF.

Daniel Yan, co-founder of Matrixport, shared insights on X (formerly Twitter), suggesting that a strategic investment opportunity is emerging for investors. Reflecting on Bitcoin's 15% decline after its ETF approval, Yan proposed a different investment strategy: "A better trade I will argue for is: ‘BUY SOL/ETH’. This may sound absurd and definitely unpopular. Reasons are: 1) SOL will be the No.1 next in line if ETH ETF get approved.”

Ethereum's price has surged by over 20% in the past 24 hours, positively impacting the broader altcoin market. Major cryptocurrencies such as Solana and XRP have also experienced significant gains in response to this trend.

In his post, Yan noted that Solana is poised for an ETF because of the historical pattern seen in the market. Following the approval of a Bitcoin ETF, attention and investment flowed into Ethereum. Yan suggested that if Ethereum receives ETF approval, it could lead to increased interest in Solana, potentially driving its price higher.

Yan advocated for investing in Solana over Ethereum, suggesting that Solana may present a more lucrative trading opportunity with higher potential gains. The Solana market faces less competition, indicating a greater possibility of profits compared to Ethereum. This strategy hinges on the expectation that investors will shift their focus to Solana following positive developments in the Ethereum market. Such a shift could occur in the near future, especially after the SEC’s decision on a spot Ether ETF.

The SEC's ruling on a spot Ether ETF is expected by May 23, a date closely watched by the crypto community.

At the time of writing, Solana (SOL) is trading at $176.08, reflecting the growing investor interest and market momentum behind this promising cryptocurrency. As the market prepares for potential regulatory approvals, the spotlight on Solana intensifies, marking it as a key asset to watch in the evolving crypto ETF landscape.