Following some news from Bloomberg analysts Eric Balchunas and James Seyffart, the SEC increased the probability of approving Ethereum ETFs to 75% and some developments indicate that ETH ETF approval may be coming.
Following these developments, while ETH and cryptocurrency prices were on the rise, a new post focused on Solana (SOL) came from Matrixport co-founder Daniel Yan.
Claiming that the ETH ETF could have a big impact on the Solana price, Daniel Yan also fueled speculation and rumors about the Solana ETF in the USA with these comments.
Matrixport co-founder and Kryptanium Capital co-founder Daniel Yan claimed in his post from his X account that Solana may be the cryptocurrency that will benefit most from the expected approval of the spot Ethereum ETF.
“If Spot Ethereum ETFs are approved within two days, the popular action in the market will be “Buy Ethereum.”
Ethereum is up almost 20% in the last 24 hours. Additionally, Bitcoin has fallen 15% in the weeks since its approval on January 10.
At this point I have a better trade to offer: They should consider buying Solana (SOL) versus Ethereum (ETH).
A better trade I would advocate is: “BUY SOL/ETH”.
This may sound ridiculous and certainly unpopular. But I have reasons:
1-Buy: If approved, the next cryptocurrency at the top of the list will be SOL.
2- When the Bitcoin ETF was approved, ETH/BTC rose 12% in a week because people were waiting for the Ethereum ETF to be approved as well.
It is not financial advice. “
A better trade I will argue for is: "BUY SOL/ETH". This may sound absurd and definitely unpopular. Reasons are:
1) SOL will be the No.1 next in line if ETH ETF get approved.
2) ETH/BTC did +12% within a week after the BTC approval as people expect ETH ETFs
3) Not a crowded trade— Daniel Yan (@_D_Y_A_N) May 21, 2024
*This is not investment advice.
