James Seyffart, a Bloomberg ETF analyst, has proposed a possible timeline for the introduction of a Solana-based spot exchange-traded fund (ETF). Despite rising interest in the crypto community following discussions on spot Ethereum ETFs, Seyffart suggested that a Solana ETF might face delays.

He explained that the launch could take several years, influenced by the regulatory environment in the US. He stated that the ETF might be possible a few years after establishing a CFTC-regulated futures market, although congressional action and market structure bills like FIT21 could expedite the process.

Seyffart also noted that the SEC has classified Solana as a security in its lawsuits against Coinbase and Kraken, which could further delay the ETF’s approval. He pointed out that the SEC has clearly labeled Solana as a security, unlike Ethereum, whose status remains ambiguous.

Despite these hurdles, Seyffart believes a Solana-based ETF would attract more demand than other altcoin ETFs.

Seyffart’s insights come amid growing calls for a Solana ETF. On CNBC, Brian Kelly, CEO of BKCM, suggested that Solana might be the next crypto-based spot ETF to launch in the US. Kelly also mentioned that the approval of spot Ethereum ETFs could clarify the market, paving the way for other crypto ETFs.

However, Nate Geraci, president of The ETF Store, argued that a spot Solana ETF would not emerge until a Solana futures product is traded on the Chicago Mercantile Exchange or US lawmakers establish clear crypto regulations. He commented that the approval of a spot Ethereum ETF might temporarily halt new crypto ETFs.