Breaking : 21SHARES Files S-1 for Solana ETF
The post Breaking : 21SHARES Files S-1 for Solana ETF appeared first on Coinpedia Fintech News
On June 28th, the ETF Issuer 21Shares filed the S-1 form with the U.S. SEC for the 21Shares Core Solana ETF. This move marks a significant step towards making Solana-based exchange-traded funds (ETFs) available to public investors.
21shares becomes the second firm to launch Solana ETF after VanEcks significant step in expanding its suite of crypto-related products by filing for the first U.S. exchange-traded fund (ETF) focused on Solana. These filings highlight an expansion of investment opportunities within the cryptocurrency market.
Bloomberg analyst Eric Balchunas stated that The SECs approval of the Solana ETF over the next 12 months is intimately related to the countrys new president.
SOL Price Analysis
This news comes as the cryptocurrency market experiences significant volatility. It can initiate a fresh Solana Price rally, fueling Solana-based meme coins. Solanas price has risen by 1.20% over the previous 24 hours. At the time of writing, the token was trading for $145.01.
Crypto market analysts forecast that SOLs price will reach $1,320, with GSR Markets naming Solana as one of cryptos big three. They predict SOL could attract 14% of Bitcoin ETF flows.A GSR Markets report projects an 8.9x increase in Solanas price. In an optimistic scenario, Solanas current price of $149 could surge to over $1,320, resulting in a market valuation of $614 billion.
In the bear and baseline scenarios, spot Solana ETFs are expected to capture 2% and 5% of Bitcoin flows, respectively, boosting Solanas price by 1.4x and 3.4x.
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
