Cboe executive: Solana spot ETF is not feasible in the short term without futures market or regulatory clarity

On June 12th, Cboe's Vice President and Global Head of ETF Listings, Rob Marrocco, believes that it is unlikely for cryptocurrency ETFs outside of Bitcoin and Ethereum to appear before changes in the market and regulatory environment.

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

He added that this means the only feasible way to push Solana ETFs to the market is to first pave the way for spot ETFs through Solana futures ETFs. Marocco further stated that even with the introduction of Solana futures ETFs, they would need to trade for a long time to establish a good track record. However, this process may take a considerable amount of time to yield results.