According to Odaily Planet Daily, Greg King, CEO of REX Financial, said in an interview with Bloomberg's "ETF IQ" that the crypto market "has become very unreliable" outside the top 10, and ETF issuers must carefully select tokens. He does not expect a large number of new token ETF applications, but "each token may have many funds."

King revealed that REX is awaiting approval for ETFs related to Bonk, Trump, and Dogecoin, and called Solana the future of stablecoins, citing its speed and suitability for high-concurrency processing. REX launched the Solana ETF in July, which includes staking rewards. He believes Solana is a prime candidate for a spot ETF due to its higher staking returns and its competitive position with Ethereum.

Currently, nine institutions, including VanEck, Bitwise, Grayscale, 21 Shares, CoinShares, Canary Capital, Franklin Templeton, Fidelity, and a joint fund between Invesco and Galaxy Digital, have applied to launch a spot Solana ETF. The SEC is expected to approve it by October at the latest. (Cointelegraph)