Solana ETF News Pumps SOL Price - Best Solana Tokens To Watch
SOL saw a sharp rise in its price following the news that renowned investment managers VanEck and 21Shares have submitted applications to launch the first-ever Solana-based exchange-traded fund (ETF) products in the United States.
According to CoinmarketCap , the fifth largest cryptocurrency by market cap has soared by more than 16% in the last 7 days as analysts speculate whether SOL could be the next cryptocurrency ETF to receive SEC’s regulatory approval.
More On The Solana ETF News
VanECK’s Solana ETF filing with the SEC was disclosed by its head of digital asset research, Matthew Sigel on June 27. In a Twitter post, Sigel expressed optimism that the application will be approved and VanEck will become the first digital asset manager to offer a SOL-based ETF in the country.
Described as the VanEck Solana Trust, Sigel explained that the new product will leverage Solana’s decentralized attribute, high utility, and market appeal to gain traction. If app...