The first Solana ETF from the financial giants is coming
The cryptosphere bet on their arrival and Canada was the first to start the trend: Solana ETFs are first on the list! This time, big American institutions are drooling over the altcoin and promising us a lot of twists and turns.
VanEck made a surprise announcement this afternoon by announcing the filing of the very first Solana-based exchange-traded fund (Solana ETF) in the United States.
Little is known about the future product, other than that it will be indexed to spot SOL and listed on the Cboe BZX exchange. It is quite possible that other institutions like BlackRock will join later, but this is still only speculation.
To better understand the issues: what is a crypto ETF?
However, please note that unlike Ethereum, the status of Solana has not yet been defined by the SEC. This is another potential battle over convenience and safety that threatens to play out ahead of possible approval, especially as the regulator leans more towards the latter option.
Altcoin price is soaring!
Following the announcement of VanEck’s request, SOL regained the popularity it had sought. Within minutes, it rose to an 8% gain since yesterday. This made it possible to reach $149 in no time.
As for what comes next, experts are mixed. While some analysts are talking about a possible downside due to opportunistic profit-taking, others think the altcoin is at the start of a nice bull run towards $200. Source: Jacob Canfield
To go further: here is where to buy Solana cryptocurrency.
Moral of the story: Impossible is not Solana.
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