Top 10 Solana-Based Altcoins to Consider Amid Solana ETF Speculation
Will Solana ETF Get the Green Light?
My Dear Readers,
Have you noticed the Solana price lately? It's been quite a ride since the week started, with increased volatility reflecting heightened buying and selling pressure in the cryptocurrency market.
In the midst of the growing mass adoption of digital assets, led primarily by institutional investors, VanEck, a prominent issuer of spot Bitcoin ETFs, has filed for the first Solana (SOL) exchange-traded fund (ETF) in the United States.
Matthew Sigel, the head of digital assets research at VanEck US, announced that the firm filed a Solana ETF with the US Securities and Exchange Commission (SEC) on June 27.
Why Now for a Solana ETF?
Following the recent approval of spot Ethereum and Bitcoin ETFs in the United States, market analysts predict that it is only a matter of time before the SEC approves similar products from the altcoin sector. There is significant demand for altcoins among institutional investors looking to diversify their cryptocurrency portfolios.
Can Solana ETFs Become a Reality?
A spot Solana (SOL) ETF in the U.S. might only become feasible with a new administration and SEC leadership, according to Bloomberg analyst Eric Balchunas. However, he believes approval is unlikely since no Solana futures ETFs exist in the U.S.
Market Reaction and Solana Price Surge
Solana's price has experienced a significant correction in recent days. However, news of VanEck's filing has already driven Solana's price up by 8% within 24 hours. Currently, Solana is trading at $145.94, with a 6.5% increase in the past 24 hours.
Source : Coinpediamarkets
With growing speculation about a potential Solana ETF approval, there is anticipation that SOL-based altcoins may see a strong bullish comeback.
We have compiled a list of the top 10 Solana-based altcoins that have high potential for significant growth in their portfolios, especially amid the potential approval of the Solana ETF. For more detailed information, click below to continue reading.
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