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Brazil's first Solana ETF, issued by QR Asset Management, will debut on B3. The fund is set to offer diversified crypto investments and position Brazil as a leader in regulated crypto assets.
The post Brazil set to debut its first Solana ETF appeared first on Crypto Briefing.
The U.S. Securities and Exchange Commission (SEC) has raised concerns with prospective issuers about Solana’s (SOL) classification as a security, according to a source familiar with ongoing talks. These discussions reportedly occurred before the Cboe BZX Exchange removed related 19b-4 filings, which were crucial for the approval process of SOL ETFs. Following these talks, the […]
According to IBMs former blockchain growth lead, a potential Solana ETF approval in the US could act as a significant price catalyst for SOL.
The possibility of Solana-based exchange-traded funds (ETFs) has emerged as a topic of heated discussion. VanEck’s Head of Digital Assets Research, Mathew Sigel, has taken a bullish stance, suggesting that Solana ETFs could materialize sooner than anticipated. This optimistic outlook stands in stark contrast to the more conservative approach adopted
Solana is one of the top performers in the top 10, looking at the performance over the last year of trading. After plunging to around $8 after the collapse of FTX, prices went on to recover steadily throughout 2023 before rising to as high as $210 in March 2024. Is SOL Ready For The “Mania-Like [...]
The post Analyst Says Solana Will Go Ballistic In The Mania-Like Stage, Targets $600 appeared first on Crypto Breaking News.
Solana-based meme coins have emerged as notable contenders in the crypto market, outperforming the largest cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in recent months. With coins like Bonk Inu (BONK) soaring nearly 7,000% year-to-date, the potential approval of Solana ETFs filed by asset managers VanEck and 21Shares in the United States, is seen [...]
The post Expert Reveals 7 Top Solana Meme Coins To Watch Amid ETF Approval Hopes appeared first on Crypto Breaking News.
The Chicago Board Options Exchange (Cboe) has submitted two applications to list spot Solana ETFs on its platform The exchange has asked the SEC to approve the listing of the 21Shares and VanEck spot Solana ETFs The SEC needs to decide by March 2025 One analyst believes that the ETF approval depends on whether Donald […]
The post Cboe Seeks SEC’s Approval After Filing to List Solana ETFs appeared first on CoinJournal.
VanEck and 21Shares' Solana ETF proposal sparks optimism and regulatory scrutiny, highlighting the potential for institutional investment in Solana. (Read More)
Matthew Sigel discusses the regulatory challenges and potential for approval of a Solana ETF under a new SEC Chair.
Franklin Templeton has said that Solana has shown “major adoption and continues to mature” The asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET) Franklin Templeton has agreed to fully waive its fees until January 2025 for the first $10bn in fund assets Franklin Templeton has indicated it’s confident in the […]
The post Franklin Templeton Endorses Solana Following Launch of its Ethereum ETF appeared first on CoinJournal.
Franklin Templeton expresses bullish sentiment on Solana, with comments on major adoption and technological maturation, fueling speculation of a Solana…
The post Solana ETF Buzz Grows Amid Franklin Templetons Positive Sentiment, Whats Next? first appeared on The Crypto Basic.
Franklin Templeton will keep exploring more assets to back new spot cryptocurrency ETFs, including those based on Solana.
Following Bitcoin and other altcoins like Ethereum, Solana is edging higher, clawing its way back after sharp losses in June. Even though the buyers are yet to reclaim the $155 support level, the expansion over the last few days has seen the coin add 25% after plunging in early July. Is SOL Preparing For $1,000? These encouraging gains over the last few days have seen traders project major gains in the coming days and weeks. Taking to X, one analyst said the coin would easily be more than 6X from spot rates, rallying to as high as $1,000 in the next bull cycle. As things stand, it is evident that SOL is already in an uptrend. At the depth of the bear run in 2022, the collapse of FTX and Alameda Research saw SOL plunge to as low as $8. The coin rallied over the last few months, especially from H2 2023, reaching $210 in March 2023. Related Reading: Solana Bullish Run: SOLs 5% Surge Brings $160 Within Reach Nonetheless, the cool-off of the past three months hasn’t canceled out the primary uptrend. If anything, buyers are still in the driving seat, and even with recent losses, SOL is still up roughly 8X from October 2023. Several factors could propel Solana higher, even above the $220 recorded in the last bull cycle of 2021. A big part of this will be driven by the spike in adoption and the rise of Solana as the third most valuable smart contracts platform, only tracking Ethereum and the BNB Chain. As the home of meme coins, Solana is emerging as a choice platform for developers and traders. Most point to its high scalability and low transaction fees. At the same time, because there is no need to use off-chain solutions, some argue that Solana could be more secure than Ethereum layer-2 platforms like Base. Solana Dominating Ethereum, Spot ETF Hopes The spike in meme coins has pushed Solana’s on-chain activity higher, reading from the swelling DEX volumes. DeFiLlama data shows that Solana dominates Ethereum in daily and monthly DEX volume. On average, these DEXes process over $13 billion every week. If meme coin prices recover, exceeding the $65 billion peak registered in the last few months, reading from CoinMarketCap data, Solana will likely stretch Ethereum, cementing its position. Like BOME, WIF, BONK, and other Solana meme coins are among the most active and valuable. Related Reading: XRP Price Confirms Bullish Reversal: Crypto Analyst Forecasts God Candles Ahead Even though the United States Securities and Exchange Commission (SEC) previously alleged that SOL is an unregistered security, some changes could challenge this preview. Recently, VanEck and 21Shares applied with the regulator to approve spot Solana exchange-traded funds (ETFs). The application is still in the early stages, but the final decision will be made before the end of Q1 2025. Feature image from DALLE, chart from TradingView
Matthew Dixon, a well-known crypto analyst, provided a comprehensive breakdown of key events and developments currently impacting the cryptocurrency market. In a recent X post, the analyst gave a detailed analysis of the events that are up to July 11. The 2024 Bitcoin Conference is expected to have a high-profile guest in its attendee list, […]
WIF has entered the breakout stage of its prevailing BARR Bottom pattern, with Solana ETF hype furthering the memecoins upside outlook.
Solana could emerge as a leading blockchain for payment institutions. Is a Solana-based ETF next?
Key highlights include VanEck's Solana ETF filing, MiCA framework in the EU, and the release of Ethereum's production-ready Reth execution client. (Read More)
Leading asset manager and Bitcoin Exchange Traded Fund (ETF) issuer VanEck has officially filed a Spot Solana ETF with the US Securities and Exchange Commission (SEC), fueling bold growth predictions for the Solana ecosystem. Market-making firm GSR Markets recently released a report shedding light on the potential impact of a Solana ETF and highlighting the platform’s emergence as part of the “Big Three” in the crypto space. Speculation Of A Solana ETF Approval GSR’s report highlights Solana’s rapid rise within the cryptocurrency industry, positioning it as a major player alongside Bitcoin and Ethereum. With the Bitcoin ETF market already approved and Ethereum about to launch a spot ETF in the US, GSR predicts that it’s only a matter of time before Solana follows suit, potentially making the biggest impact. Related Reading: Bitcoin Miner Selling Cools Off Is This The Breakout Moment? GSR’s analysis highlights three key technological advancements that set Solana apart from its competitors. Firstly, Solana’s proof-of-history enables validators to produce blocks efficiently, resulting in remarkable speed and scalability advantages. Second, Solana’s parallel transaction processing enables increased throughput and takes advantage of improvements in computing speed. Finally, the company said Solana’s architecture positions it to solve the “blockchain trilemma” by achieving global state synchronization at “unprecedented speeds” as hardware and bandwidth costs decline. In addition, GSR’s report addresses the likelihood of Solana securing a spot digital asset ETF. While the current regulatory framework requires a federally regulated futures market and a futures-based ETF before a spot product can be considered, GSR believes that the potential for change shouldn’t be underestimated. The company also claims bipartisan support for the crypto industry, and shifting attitudes among lawmakers indicate a more favorable environment for digital assets. A Trump administration and a liberal SEC commissioner could further pave the way for the launch of spot digital asset ETFs, creating opportunities for Solana and other cryptocurrencies, the report said. Projected Impact On SOL’s Price GSR emphasizes the importance of decentralization and potential demand in determining the next spot digital asset ETF. Factors such as permissionless participation, developmental control, token allocation, and stake characteristics contribute to a blockchain’s level of decentralization. Meanwhile, as indicated by metrics like market cap, potential demand serves as a crucial factor for issuers when assessing future inflows. GSR combines decentralization and demand scores to create an ETF Possibility score, which highlights Ethereum and Solana as leading contenders for the next spot in digital asset ETF. Related Reading: Dogecoin To The Moon? Crypto Analyst Predicts 440% Price Increase Drawing parallels to the effect of spot Bitcoin ETFs on Bitcoin’s price, GSR estimates the potential impact of a Solana ETF on SOL. Adjusting for Solana’s smaller market cap relative to Bitcoin, GSR predicts a 1.4x to 8.9x increase in SOL’s price under different scenarios. However, the report acknowledges that the impact could be even higher, considering SOL’s active usage in staking and decentralized applications. In the event of a spot ETF approval, GSR suggests that the potential upside for SOL presents a significant opportunity in the market. As investor excitement over the development became apparent, SOL’s price reached a weekly high of $151 on Thursday, but in the past few hours, SOL has dropped nearly 4% to a current trading price of $143. Featured image from DALL-E, chart from TradingView.com
In a significant development for the cryptocurrency industry, investment firm 21Shares filed an S-1 registration form for a Spot Solana ETF with the US Securities and Exchange Commission (SEC) on Friday. The 21Shares application follows a similar filing by Bitcoin ETF issuer and asset manager VanEck on Thursday, indicating a growing interest in Solana as a potential competitor to the anticipated Ethereum ETF market, which is expected to begin trading in July. 21Shares Introduces Core Solana ETF The 21Shares Core Solana ETF, as described in the filing, is designed to issue common shares of beneficial interest that trade on the Cboe BZX Exchange. Related Reading: SOL Price Soars As First-Ever Solana ETF Filing Surfaces In The US Its investment objective is to track the performance of SOL, providing investors with a convenient and cost-effective method to gain exposure to SOL without making a direct investment in the asset. Based on the index, the ETF will hold SOL and value its shares daily. The Trust will be sponsored by 21Shares, with CSC Delaware Trust Company acting as the trustee. Coinbase Custody Trust Company will serve as the SOL custodian, holding all of the Trust’s SOL on its behalf. SOL Price Consolidates After Initial ETF Announcement While the SEC’s approval of a Solana ETF is subject to regulatory review and compliance, these filings demonstrate the increasing demand for investment products that expose Solana’s digital assets. If approved, the ETFs would provide investors with a regulated and accessible way to participate in Solana’s potential growth and performance. Related Reading: Bitcoin Miner Selling Cools Off Is This The Breakout Moment? Notably, this could be the start of new filings with the SEC by the world’s largest asset managers, as has already been the case with Bitcoin and Ethereum ETFs. Nonetheless, SOL has not had the same reaction as it did on Thursday with VanEck’s announcement of its Solana ETF filing, which sent SOLs price to a 9% price recovery towards $150 after a dip to $121 earlier in the week. Now SOL is trading at $142 due to a 4% price correction experienced over the past 24 hours. Featured image from DALL-E, chart from TradingView.com
The proposed fund would be called the 21Shares Core Solana ETF and would not participate in staking SOL.
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