On Wednesday afternoon, Bitwise Investment, a prominent asset manager and exchange-traded fund (ETF) issuer, submitted an S-1 form application for a spot Solana ETF to the US Securities and Exchange Commission (SEC) in the state of Delaware. This move positions Bitwise in the race for regulatory approval to launch an index fund that invests in […]
The United States has only approved ETFs for Bitcoin and Ether, versus some 30 digital asset types in Europe, according to the Financial Times.
Navigating the ever-changing crypto market can be challenging for investors, who often descend into the depths of the industry without any guidance. Some have taken on the task of developing tools to help traders steer their strategies and try to maximize their portfolio’s performance. 3Commas, a crypto trading bot automated platform, is one of those […]
Following Donald Trump’s victory in Tuesday’s election, members of the crypto community are celebrating a renewed sense of hope for their ETF ambitions. The change in political leadership is seen as a potential turning point for the approval of cryptocurrency ETFs focused on altcoins such as Solana, XRP and Litecoin. Solana Gains Ground In ETF […]
VanEck’s proposed spot Solana (SOL) exchange-traded fund (ETF) is facing scrutiny due to concerns over wash trading and the nature of on-chain activity. Matthew Sigel, Head of Digital Assets Research at VanEck, published an in-depth analysis on Tuesday, comparing SOL’s metrics with those of Ethereum to provide context and clarity. Solana has been recognized for […]
The US presidential race could determine the fate of more than half a dozen proposed crypto ETFs.
In an analysis shared on X, popular crypto analyst Gum (@0xGumshoe) is projecting that Solana (SOL) could ascend to $500 by the conclusion of this bull run. This bullish forecast hinges heavily on the outcome of the US presidential election, slated for November 5th, and the potential policy changes that could follow. Solana Price Prediction For This Bull Run @0xGumshoe initiated his forecast with a bold declaration: “SOL TO $500. The upcoming US elections will affect SOL more than any other token. Here’s why I’ve changed my price target.” Delving into the potential scenarios, @0xGumshoe examined the implications of both possible election outcomes—whether Kamala Harris secures the presidency or Donald Trump returns to office. Each scenario presents distinct pathways for Solana’s trajectory. Related Reading: Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect In the event of a Kamala Harris victory, @0xGumshoe anticipates a mixed impact on Solana. He noted, “BTC and SOL have outperformed during Biden/Harris,” pointing especially to the performance of the past year under the current administration. The approval of the spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) during the Biden/Harris tenure is highlighted by the analyst as a positive factor that could continue to benefit Solana. Additionally, Harris’s supposed commitment to a “less aggressive stance towards crypto” regulation suggests a more favorable environment for the growth of Solana. However, @0xGumshoe also cautioned about potential challenges under a Harris administration. He remarked, “Less regulatory clarity” and a potential new term for SEC Chair Gary Gensler could complicate things for Solana. Furthermore, the possibility of a spot Solana ETF facing rejection and an increase in Bitcoin dominance might overshadow altcoins. Conversely, @0xGumshoe presented a more bullish outlook if Donald Trump wins the election. He asserted, “A Trump win will send Solana to ATHs as the market realizes a SOL ETF will be coming.” The analyst emphasized that unlike Bitcoin and Ethereum, Grayscale is unlikely to offload significant amounts of Solana, which could help sustain its price. Additionally, the analyst points to the possibility of establishing a Bitcoin Strategic Reserve and the departure of SEC Chair Gary Gensler as bullish catalysts for SOL. Related Reading: Solana Q3 Digest: Total Value Locked Hits $5.7 Billion, Ranks Third Among Networks However, a Trump victory could also have downsides. @0xGumshoe acknowledged that “higher inflation could eventually end the cycle like in 2021.” Furthermore, he noted Trump’s inherent volatility, stating that the former president “may not do what he promised,” which introduces an element of unpredictability to the projections. In light of these scenarios, @0xGumshoe revised his selling targets for Solana. Previously advocating for a $300 sell target, he now contemplates a higher threshold of $500, contingent upon a Trump win and an increase in macro liquidity. He explained, “If we pair up a Trump win and increase macro liquidity, I will instead sell over time for as long as I believe we hit $500.” The rationale behind the $500 price target is anchored in Solana’s fully diluted valuation (FDV). @0xGumshoe articulated, “At that price, Solana would have a $291B FDV which would put it at the current ETH market cap.” He views this valuation as a significant benchmark, suggesting that Solana’s price could approach Ethereum’s market capitalization unless there is a substantial influx of investments through ETFs, which could propel the token beyond this threshold. Under the Harris administration, @0xGumshoe’s price target for Solana remains at $300. @0xGumshoe concluded his analysis by advising caution, stating, “The elections alone are not enough to predict tops for Solana so take this with a grain of salt. Whatever happens, it is quite obvious that SOL will go far higher with Trump than Harris.” At press time, SOL traded at $161. Featured image from Coinbase, chart from TradingView.com
Asset manager Canary Capital has officially filed for a spot Solana ETF in the United States, following in the footsteps of investment firm VanEck, which introduced its own application four months ago. The Solana ETF move was confirmed minutes ago by Bloomberg ETF expert James Seyffart on social media platform X (formerly Twitter). Canary Capital […]
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
Solana generated some $8.7 million in economic value from network activity, up from just under $8 million one day prior, according to Blockworks Research.
Solana price is up today, registering a 4% ascent over the past 24 hours as the wider crypto market continues to show strength.
Solana ETF approvals are extremely unlikely this year, though VanEck’s head of digital assets, continues to believe in them.
Analysts think Solana ETF approvals are unlikely for now, though VanEck’s head of digital assets suggests there’s still a way.
According to IBM’s former blockchain growth lead, a potential Solana ETF approval in the US could act as a significant price catalyst for SOL.
Although the market dipped today, Solana has found its way to spark investor interest despite falling a few points in the past 24 hours. However, the token is still up nearly 22% in the past month, going against the market’s general bearishness after last week’s slip and slide. Related Reading: XRP Price Reaches Support: Will It Trigger a Turnaround? Solana’s significant traction around the world has garnered some attention in the institutional space, leading to a development that might help SOL weather the bearish storm ahead. But with the coming announcements of several macro indicators, there might be trouble in the coming weeks. Brazil Approves Solana ETF, Coming Ahead Of The USA The Comissão de Valores Mobiliários (CVM), the Brazilian equivalent of the US Securities and Exchange Commission, approved QR Asset’s Solana exchange-traded fund (ETF) proposal on Wednesday becoming the first ever Solana ETF in Latin America. This development surpasses the United States as several Solana ETFs are still up for review by the SEC. According to local sources, the ETF is still subject to approval by B3, the company responsible for the country’s stock exchange. Nonetheless, this is a huge win for Brazilian crypto-enthusiasts as it solidifies the country’s position in the international crypto scene. “This ETF reaffirms our commitment to offering quality and diversification to Brazilian investors. We are proud to be global pioneers in this segment, consolidating Brazil’s position as a leading market for regulated investments in crypto assets,” Theodoro Fleury, Manager and Chief Investment Officer at QR Asset, said in an interview. SOL Consolidation Phase Starts, Price To Stabilize On This Level Regulatory hurdles are the thing that block Solana ETFs from hitting the market. Although the SEC already pulled Solana’s name from its legal action against Binance, Solana ETFs in the US are still a long way ahead. But the market reacted spectacularly well from the Brazilian Solana ETF announcement. Although short term pain is relatively stingy, SOL’s position is quite healthy as the $131-$147 price range remains to be the bulls’ chosen platform for future upward movement. Meanwhile, World of Charts, a well-known cryptocurrency analyst, has identified the presence of a bullish pennant pattern. This pattern typically occurs after a significant upward price movement and is characterized by converging trendlines that resemble a symmetrical triangle. This pattern indicates a temporary halt in the market before continuing the current upward trend. ETF: Boon Or Bane? The ETF announcement has definitely hurt the bears, which further reduced the possibility of further downturn. Moving forward, investors and traders should watch the broader market developments that may or may not affect the token’s price movement. In this case, watching how institutional entities grow in interest on Solana– and crypto as a whole– is a great place to start. Related Reading: SUI Leads Crypto Market With 78% Weekly Uptick: Here’s Why SOL’s potential is in the long term with developments like this that may take place weeks, or even months, after the initial announcement. As of now, SOL is weathering the bearish storm well as the consolidation phase opens the road toward $171 or even $186. However, expect this consolidation phase to be short as the market continues to experience moderate volatility in the short term. Featured image from Marca, chart from TradingView
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.
Despite growing rumors that the world’s largest asset manager may file a spot Solana ETF (exchange-traded fund) with the US Securities and Exchange Commission (SEC), BlackRock executive Samara Cohen has dismissed the possibility, at least in the near future. BlackRock Pours Cold Water On Solana ETF Hopes In a recent interview with Bloomberg, Samara Cohen, […]
Franklin Templeton will keep exploring more assets to back new spot cryptocurrency ETFs, including those based on Solana.
The Chicago Board Options Exchange (Cboe), known for trading Bitcoin exchange-traded funds (ETFs) approved earlier this year, has thrown its support behind the spot Solana ETF applications filed by asset managers VanEck and 21Shares. On Monday, the Cboe submitted a request to the US Securities and Exchange Commission (SEC) seeking to list ETFs tied to […]
WIF has entered the breakout stage of its prevailing BARR Bottom pattern, with Solana ETF hype furthering the memecoin's upside outlook.
The realm of cryptocurrency ETFs appears to be now expanding, yet not all digital assets are poised for an easy transition into this financial product. GSR’s recent analysis of the potential for ETFs across various crypto has brought forward insights that place XRP and Cardano in a challenging position for ETF adaptation. Using a comprehensive […]
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
The proposed fund would be called the 21Shares Core Solana ETF and would not participate in staking SOL.
On Thursday, VanEck filed an application for the inaugural US-based spot Solana Exchange-Traded Fund (ETF). This move has sparked considerable interest among investors and analysts alike. GSR, a prominent market maker, has released an in-depth analysis entitled “Is Solana Next?” which projects an extraordinary potential increase in SOL’s price, possibly by up to nine times, […]
VanEck files for the first US Solana ETF, driving SOL prices up nearly 10% as the market reacts positively.
The post Solana jumps almost 10% as VanEck files for first US Solana ETF appeared first on Crypto Briefing.
On Thursday, 3iQ Digital Asset Management announced the filing of a preliminary prospectus for The Solana Fund (QSOL) with securities regulatory authorities across Canada, excluding Quebec. If approved, QSOL will become the first Solana (SOL) exchange-traded product (ETP) listed in North America, trading on the Toronto Stock Exchange (TSX) under the ticker “QSOL”. First Solana […]
Solana could emerge as a leading blockchain for payment institutions. Is a Solana-based ETF next?