The recent filings for crypto-backed ETFs have notably excluded crypto staking from their bids, reflecting a common trend in the industry. Following the successful approval of Bitcoin ETFs and the upcoming Ethereum ETFs, there is growing interest in SOL being the next cryptocurrency to be featured in an exchange-traded fund, appealing to institutional investors. There are concerns about low capital inflows into spot ETH ETFs dissuading investors from considering another crypto investment product. Furthermore, it is noted that the SOL network is not controlled by a single entity or intermediary, reinforcing its decentralized framework and commodity status.
Additionally, the wide range of applications and services supported by the SOL ecosystem, including decentralized finance and NFTs, underscores SOL’s utility and value as a digital commodity.