Solana exchange-traded funds (ETFs) are nearing a potential launch, with a final decision expected by mid-March 2025. The Chicago Board Options Exchange (CBOE) filed applications on July 8 to list ETFs proposed by VanEck and 21Shares, generating interest and speculation in the cryptocurrency market.
Eric Balchunas, a Senior ETF Analyst for Bloomberg, tweeted about the importance of the upcoming months, highlighting November as crucial. He noted, “If Biden wins, these likely DOA. If Trump wins, anything poss.” This shows how politics can impact cryptocurrency investment regulations.
The CBOE’s filings for the 21Shares Core Solana ETF and the VanEck Solana Trust compare Solana to established cryptocurrencies like Bitcoin and Ethereum, which the SEC approved for spot ETFs earlier this year.
The exchange emphasized Solana’s decentralization, speed, and resistance to price manipulation as key benefits. The filings stated, “Much like Bitcoin and ETH, the Exchange believes that SOL resists price manipulation,” aiming to reassure investors and regulators.
ETF analyst Nate Geraci mentioned that the regulatory clock starts once the SEC acknowledges these filings. SEC rules give the agency 240 days to decide on rule changes for listing these products.
Solana Market Movements: Future Price Insights
SOL has seen notable trading activity. Currently, Solana trades at $141.23, showing a 7% rebound according to CoinMarketCap. Trading volume jumped by 55%, indicating strong investor interest. With a market cap of about $65 billion, Solana remains the 5th-largest cryptocurrency.
SOL’s price has been steady despite recent drops. The token fluctuates between $122 and $150, recently peaking above $154 before returning to its usual pattern. Analysts are optimistic about Solana’s growth, noting its 552% rise this year.
SOL might break through the $150 resistance level, aiming for $160 and possibly $200. However, if bearish trends continue, SOL could fall to the $135 support level or even $120, suggesting a more bearish market sentiment.
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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.
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