- 21Shares has filed a Solana (SOL) ETF, and its Core Solana ETF utility comes a day after VanEck’s Solana Belief.
- The information pushed SOL’s value to round $142, having surged following VanEck’s submitting on Thursday.
The Solana (SOL) ETF mania is gaining momentum, as one other issuer has utilized for a spot Solana ETF.
A day after VanEck filed for the same exchange-traded fund with the US Securities Alternate Fee (SEC), 21Shares has additionally submitted its utility.
21Shares applies for Solana ETF
In line with admissionThe 21Shares Core Solana ETF will commerce on the CBO BZX change and “monitor the efficiency of SOL, the native digital asset of the Solana blockchain.”
“21Shares is happy by the prospect of an change traded product (ETP) within the US that gives entry to the Solana ecosystem. We consider this can be a crucial step for the crypto business and is true to our mission to carry simply accessible monetary merchandise centered round crypto belongings to market,” the agency wrote on x.
VanEck turns into first to file SOL ETF within the US
VanEck and 21Shares at the moment are the primary two asset managers to use for a SOL spot ETF within the US and that might decide who might be subsequent because the business gears up for a spot Ethereum ETF. The SEC authorized an Ether ETF in Might and consultants say ultimate approval might come as quickly as subsequent week earlier than the merchandise hit exchanges.
For Solana, Bloomberg senior ETF analyst Eric Balchunas They say It’s too early to find out a date for potential approval. Nonetheless, if Trump wins the election this 12 months, the “probabilities of a Solana ETF being authorized” might improve considerably within the subsequent 12 months.
SOL value rises amid ETF information
on Thursday, Solana price increased sharply Because the market reacted to VanEck’s submitting.
On Friday, cryptocurrencies misplaced many of the positive factors because the broader ecosystem remained underneath continued adverse stress.
Nonetheless, Bitcoin was struggling beneath $61k and Ether close to $3,400, whereas SOL hoped to bounce again above $142. In distinction to the 4.5% and three% decline in BTC and ETH respectively final week, Solana value was up 8%.
