REX CEO: Cryptocurrency ETF issuers must carefully select assets, Solana may become the future of stablecoins.

Greg King, CEO of REX Financial, recently stated in an interview with Bloomberg's ETF IQ program that cryptocurrency ETF issuers must be particularly cautious when selecting underlying assets because "most cryptocurrency markets remain quite opaque." He also pointed out that Solana (SOL) could become the next core platform for stablecoins and predicted that each mainstream cryptocurrency will have multiple ETF products in the future.

ETF issuers must carefully select targets

King pointed out that when the market capitalization ranking of Crypto Assets falls out of the top 10 or even the top 20, its transparency and level of information disclosure will significantly decrease, posing challenges for ETF issuers.

"Issuers will have to make a lot of selections," he said, "the number of ETF applications for different Crypto Assets won't explode overnight, but almost every major Crypto Asset will have multiple fund versions."

Under the leadership of President Trump in the United States, the SEC has adopted a more open attitude towards the crypto market, and the success of the Bitcoin spot ETF has triggered a rush among issuers to layout new products. REX is currently awaiting approval for a meme coin ETF tracking Bonk, Official Trump, and Dogecoin (DOGE).

Solana: An Underrated Stablecoin Platform?

King believes that Solana has high transaction speed and scalability, yet it is underestimated in the stablecoin space. He stated: "When I see everyone arguing about issuing stablecoins on Ethereum, I think it's a mistake. Solana is the true direction that represents the future of stablecoins."

Currently, the main battleground for stablecoins is still on Ethereum, but King predicts that Solana may become the "emerging force" that disrupts Ethereum. This view has sparked controversy in the industry, with some seeing it as innovative foresight, while others consider it overly radical.

REX launched a Solana ETF with staking rewards in July, emphasizing that its staking yield is higher than competitors and attractive for portfolios.

The ETF market enters the "multi-product era"

King expects that there will be a "certain degree of explosive growth" in the future ETF market, especially in emerging assets like Solana. "You will see six, eight, or even a dozen companies launching ETFs for the same underlying asset, just like Bitcoin, Ethereum, and now Solana."

Currently, 9 institutions have applied to launch a Solana spot ETF, including VanEck, Bitwise, Grayscale, 21Shares, CoinShares, Canary Capital, Franklin Templeton, Fidelity, and a joint fund by Invesco and Galaxy Digital.

The market expects that the US SEC will approve these applications in October, and analysts generally believe that the chances of approval are very high.

Conclusion

Greg King's perspective highlights two major challenges for cryptocurrency ETF issuers in product design: first, how to select trustworthy assets in an opaque market, and second, how to find a differentiated advantage in the highly competitive ETF landscape. As emerging assets like Solana gain more institutional attention, the future ETF market may see a race centered around speed, transparency, and innovation. For more real-time market analysis and industry insights, please follow the official Gate platform.