As a seasoned analyst with over two decades of experience in the financial sector, I’ve witnessed numerous groundbreaking developments that have shaped the industry. The latest prediction by Alphabet’s AI chatbot, Gemini, regarding Solana as the next cryptocurrency to get an ETF in the States has piqued my interest.
The Google division within Alphabet Inc is significantly progressing with their AI chatbot, named Gemini. In the realm of large language model artificial intelligences (AI), Gemini holds its ground against prominent competitors such as ChatGPT, Meta AI’s models, and X’s chatbot Grok.
In this case, CryptoPotato chose to seek information on which cryptocurrency might soon be available in the U.S., allowing for a fund that would follow its market trends.
Alphabet’s Gemini Gets to Work
Although Nvidia’s AI processors are commonly used for setting up and fine-tuning AI chatbots, Mountain View, California-based company is instead using its own chips to train Gemini.
Last week, Google revealed plans to introduce Gemini support for Google Workspace users, aiming to enhance email communications. This new feature, much like other contemporary services, allows users to pose a variety of queries, even those related to the digital currency market.
Google Chatbot Guesses Solana ETF Next
If you were to pose the question to cryptocurrency market experts, such as Dominic Basulto – a futurist blogger based in New York City: “Which crypto is likely to receive an ETF soon?”, many of them might predict that it will be Solana.
As a discerning analyst, I concur with Google Gemini’s assessment. When asked recently about the upcoming exchange-traded fund (ETF) in the cryptocurrency space, my response was Solana. It appears that this digital asset is the strongest contender for the next ETF listing at this moment.
There’s been quite a bit of chatter about an ETF being developed for the world’s fourth-largest cryptocurrency that isn’t a non-stable coin. Among various options such as Ripple, Cardano, Litecoin, Avalanche, and others – Solana stands out.
In Brazil, the government regulator recently granted approval for a second such product.
Currently, VanEck, an early group member involved in Bitcoin ETF issuance, continues to diligently work towards getting their Solana ETF approved by the Securities and Exchange Commission (SEC).
Here’s a quick review of the reasons Gemini gave for its answer:
- “Market demand: Solana has a significant market demand and a growing community.”
- “Regulatory progress: Recent developments in the regulatory landscape, particularly the approval of spot Bitcoin and Ethereum ETFs, suggest a potential shift towards a more favorable stance on altcoins.”
- “Institutional interest: Solana has garnered significant interest from institutional investors, which can influence regulatory decisions.”
Nevertheless, the Google chatbot added a reminder: “It’s crucial to keep in mind that the regulatory environment may shift quickly, potentially making other cryptocurrencies eligible contenders for ETFs as well.”
“Gemini recommends keeping yourself informed about the most recent updates in the cryptocurrency market and its regulatory environment,” suggests a straightforward rephrasing.
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2024-08-26 16:44