Solana has emerged as the next ETF candidate after Bitcoin and Ethereum

The SEC has just announced a common listing standard for crypto ETFs, which allows for exemptions from prior approval if the assets have futures contracts traded for at least 6 months on a market regulated by the CFTC, typically CME.

Currently, besides Bitcoin and Ethereum which already have ETFs, there are only two crypto futures contracts on the CME: Solana (SOL) starting from March 17, 2025, and XRP starting from May 20, 2025.

This helps Solana become the most promising candidate for the next ETF, as SOL futures have been trading for nearly 6 months. XRP may have to wait until November, while other cryptos without CME futures will take longer.

However, the ETFs that have filed applications will still be reviewed by the SEC within the legal time frame, likely peaking in October – November. This raises hopes for a new “ETF wave” flooding the market in the next 2 months.