Bloomberg analyst: Solana ETF a different proposition compared to ETH

According to Bloomberg exchange-traded fund (ETF) analyst James Seyffart, while panelists appearing on CNBC seemed to suggest that Solana would be next in the ETF pipeline after Ethereum, Solana is a different prospect entirely. Seyffart points out that in recent lawsuits against Coinbase and Kraken, the Securities and Exchange Commission (SEC) has explicitly stated that Solana is a security. In contrast, it has simply refused to comment on the status of Ethereum in that regard. On that basis, the analyst believes that it could be “a very rocky road” towards a spot Solana ETF.