Issuers of crypto exchange-traded funds ought to fastidiously think about which cryptocurrencies to supply publicity to of their funds, as a lot of the crypto market is “fairly sketchy,” says REX Financial CEO Greg King.
“Crypto will get fairly sketchy under the highest 10, actually under the highest 20,” King informed Bloomberg’s ETF IQ on Monday.
“There’s some important selecting and selecting that has to occur by issuers there,” he added.
King added that he didn’t assume there could be “an enormous explosion” in ETF filings for varied cryptocurrencies however predicted “a number of funds per coin.”
ETF issuers have rushed to get approval for a number of crypto funds after the success of spot Bitcoin (BTC) ETFs, and because the Securities and Exchange Commission below President Donald Trump has taken a friendlier tone with the sector.
REX is ready for approvals for ETFs tied to memecoins — cryptocurrencies with no intrinsic worth — which might monitor Bonk (BONK), Trump’s token, Official Trump (TRUMP), and Dogecoin (DOGE), which is presently the tenth largest cryptocurrency by market worth.
King touts Solana as “the longer term” for stablecoins
In early July, REX Financial launched a Solana (SOL) ETF that included publicity to staking rewards — payouts given to those that lock up tokens to assist the blockchain.
REX Financial CEO Greg King believes Solana is the story of stablecoin’s future over Ethereum. He speaks with @EricBalchunas on “ETF IQ” https://t.co/aVEoiSkzfo pic.twitter.com/iQx9g4oYJg
— Bloomberg TV (@BloombergTV) August 25, 2025
King mentioned that Solana is “quicker and extra designed for top processing pace,” and that it’s been missed as a blockchain for stablecoins, that are largely well-liked on rival blockchain Ethereum.
“Frankly, after I noticed the massive debate come out about stablecoins being all constructed on ETH [Ethereum], I used to be like ‘this can be a enormous oversight.’ I believe Solana is definitely the story for the longer term so far as stablecoins go.”
“Lots of people assume that Solana is the up-and-comer that’s going to kind of dethrone Ethereum,” he added. “It’s a really controversial debate. I in all probability made buddies and enemies by even suggesting that.”
Expect extra ETFs per cryptocurrency
King additionally addressed expectations that many crypto ETFs shall be launched within the coming months, saying he thinks there shall be “considerably of an explosion.”
“Where else in ETF land did you might have six, eight, 10, 12 individuals lining as much as launch the identical actual factor time and again like we’ve seen with a Bitcoin ETF after which with ETH, now with Solana,” he added.
“Those numbers simply multiply, and I believe you’ll proceed to see that,” King mentioned.
Related: Canary Capital recordsdata ‘American-Made’ crypto ETF amid SEC delays
He added that Solana was a “nice candidate” for a spot ETF, saying its “fairly fascinating as a portfolio funding” as a result of its rivalry with Ethereum and its comparatively “a lot bigger staking reward.”
Nine line up for Solana ETF
There are presently 9 issuers which have filed to launch a spot Solana ETF, with VanEck, Bitwise, Grayscale, 21Shares, CoinShares, Canary Capital, Franklin Templeton, Fidelity Investments and a joint fund by Invesco and Galaxy Digital within the combine.
The SEC is anticipated to clear them for buying and selling by not less than October, and analysts and prediction market bettors have signalled that the funds will virtually actually be authorized.
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