The race to launch the first Solana-focused exchange-traded fund (ETF) is heating up, with four major issuers filing applications with the Chicago Board Options Exchange (CBOE).<\/p>\n
This development seems to have triggered a charge leading to the price of Solana\u2019s native SOL token to a new all-time high (ATH), pushing it almost past $263 only hours before this writing.<\/p>\n
The applications<\/a> are from Bitwise, Canary Capital, VanEck, and 21Shares and have been filed as Form S-1s and 19b-4s with the U.S. Securities and Exchange Commission (SEC). Notably, Bitwise\u2019s S-1 submission, dated November 21, indicates its intention to create a commodity-based trust.<\/p>\n The regulator now has up to 15 days to acknowledge the filings and publish them in the Federal Register. It would mark the next phase in the regulatory process, kickstarting a 240-day review window.<\/p>\n While previous filings for Solana ETFs were withdrawn<\/a> earlier this year, industry watchers are much more optimistic about the new submissions\u2019 success, given the shifting regulatory mood following Donald Trump\u2019s victory in the recently concluded U.S. presidential election.<\/p>\n The President-elect\u2019s pro-crypto stance and Gary Gensler\u2019s impending departure<\/a>\u00a0from the SEC helm have given observers a sense of positivity, even though some challenges remain, including pending lawsuits referencing SOL as a security.<\/p>\n Bloomberg\u2019s senior ETF analyst, Eric Balchunas, warned<\/a> that the lawsuits and regulatory hurdles must be resolved before approval can be expected.<\/p>\n Fellow expert Nate Geraci had earlier predicted<\/a> that several ETFs would be filed after Trump\u2019s victory. For now, the optimism seems rooted in speculation rather than concrete signals from the SEC.<\/p>\n If approved, the ETFs could broaden access to Solana for traditional investors, solidifying its standing alongside Bitcoin and Ethereum as a top blockchain ecosystem.<\/p>\n SOL\u2019s market cap now stands at over $125 billion, with a fully diluted valuation of $153.25 billion. A 24-hour trading volume of $14.8 billion per CoinGecko is a testament to the market\u2019s excitement and growing investor interest.<\/p>\n The token, ranked #4 on the list of largest cryptocurrencies by market cap, surged to an all-time high of $262.93 on the back of the filings. Although the price had retracted to just above $259 at the time of writing, it still represents a nearly 9% improvement over the last 24 hours.<\/p>\n The surge is a much more impressive 24.7% across seven days, outpacing the broader crypto market\u2019s 9.3% growth in the same period. Additionally, its performance has been among the most dominant in the layer 1 space, where most coins averaged 13.4% gains.<\/p>\n The post Bitwise, Canary Capital, VanEck, and 21Shares Submit Solana ETF Applications Amid Price Surge<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The race to launch the first Solana-focused exchange-traded fund (ETF) is heating up, with four major issuers filing applications with the Chicago Board Options Exchange (CBOE). This development seems to have triggered a charge leading to the price of Solana\u2019s native SOL token to a new all-time high (ATH), pushing it almost past $263 only […]<\/p>\n","protected":false},"author":0,"featured_media":22818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22817"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22817"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22818"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Solana\u2019s Price Soars Amid ETF Buzz<\/h2>\n