Cboe Executive: Without a futures market or regulatory transparency, a Solana spot ETF is not feasible in the short term

Cboe Vice President and Global Head of ETF Listings, Rob Marrocco, believes that it is unlikely for crypto ETFs beyond Bitcoin and Ethereum to appear before changes in the market and regulatory environment occur.

On June 11th's ETF Store podcast, Marrocco stated that expectations for Solana and XRP spot ETFs are unrealistic in the short term because these cryptocurrencies do not have futures markets, which is a key factor in approving Bitcoin and Ethereum spot ETFs.

He added that this means the only feasible way to bring a Solana ETF to market would be by first introducing a Solana futures ETF, then paving the way for a spot ETF.

Marocco further mentioned that even with the introduction of Solana futures ETFs, they would need to trade for quite some time to establish a good track record. However, this process could take quite some time to yield results.