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Katalin Tischhauser, head of investment research at Signum Bank, has joined other commentators who suggested that spot Solana and Cardano ETFs are unlikely, though VanEck may disagree.
Solana, Cardano and other crypto assets have a slim chance of being approved as spot exchange-traded funds (ETFs) in the United States and could have an even more difficult time attracting investors.
Speaking to Cointelegraph, Katalin Tischhauser, head of investment research at Sygnum Bank, joined a recent string of commentators who expressed skepticism that other altcoins can follow Ether (ETH) and Bitcoin (BTC) as spot crypto ETFs in the United States.
Tischhauser said the main obstacle to approving other crypto ETFs in the US is the lack of trading venues that the Securities and Exchange Commission considers acceptable for market surveillance.
Daily flow into Ether ETFs has turned up positive for the first time since launch day, reversing a trend of outflows that saw $547 million leave the funds over the past four days.
Fund flows to United States-listed spot Ethereum exchange-traded funds have flipped to a daily net positive for the first time since its launch day, due mainly to a slowdown in bleeding from the Grayscale Ethereum Trust.
Net inflows across all nine spot Ether ETFs came in at $33.6 million on July 30, according to preliminary data from Farside Investors and decentralized aggregator Tree News.
While the figure itself isn’t that impressive, it is the first time the funds have registered an inflow outside of its launch day. Around $547 million have left the spot Ether investment products since July 24.
The withdrawal comes a little over two weeks before the United States securities regulator will be forced to make a decision on at least one spot Ether ETF application.
Grayscale has made a surprising move to withdraw its 19b-4 application for its Ether (ETH) futures exchange-traded fund, just three weeks before the securities regulator would be forced to make a decision on it.
The cryptocurrency asset manager filed a notice of withdraw the Grayscale Ethereum Futures Trust with the United States Securities and Exchange Commission on May 7.
The SEC was scheduled to make a final decision on Grayscale's Ether futures ETF on May 30.