Google Gemini Names Next Crypto to Get an ETF
Alphabet Inc’s Google department is making great strides with its AI chatbot, Gemini. Among Large Language Model AIs (LLMs), it competes with the likes of ChatGPT, Meta AI, and X’s Grok.
As such, CryptoPotato decided to inquire about what cryptocurrency could be the next to have an exchange-traded fund in the States to track its performance.
Alphabet’s Gemini Gets to Work
While Nvidia AI chips are most popular for loading and calibrating AI chatbots, the Mountain View, California company is training Gemini on its own chips.
Google announced last week that it’s rolling out Gemini support to Google Workspace users to polish emails. The chatbot, similar to its competitors, can be asked all types of questions, including such concerning the cryptocurrency industry.
Google Chatbot Guesses Solana ETF Next
If you ask crypto market watchers like New York City-based futurist blogger Dominic Basulto: “What crypto will get an ETF next,” many would place their bets on Solana.
Google Gemini agrees. “As of now, Solana seems to be the most likely cryptocurrency to get an ETF next,” Gemini said Sunday when prompted with the question, “What crypto would you say is most likely to get an ETF next?”
There’s been a lot of buzz about an ETF in the works for the world’s fourth-largest non-stablecoin cryptocurrency. Among other contenders like Ripple (XRP), Cardano (ADA), Litecoin (LTC), and Avalanche (AVAX) – Solana (SOL) takes the cake.
In Brazil, the government regulator recently granted approval for a second such product.
Meanwhile, VanEck, one of the initial cadre of Bitcoin ETF issuers, remains actively committed to shepherding its Solana ETF through the SEC’s approval process.
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.”
However, the Google chatbot couched its guess with this caveat: “However, it’s important to note that the regulatory landscape can change rapidly, and other cryptocurrencies could also become viable candidates for ETFs.”
“It’s always advisable to stay updated on the latest news and developments in the crypto market and regulatory landscape,” Gemini says.
The post Google Gemini Names Next Crypto to Get an ETF appeared first on CryptoPotato.
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