VanEck’s Solana ETF Application Sparks Investor Interest
VanEck filed for the first US-based spot Solana Exchange-Traded Fund (ETF) on Thursday, drawing attention from investors and analysts.
GSR’s analysis, titled “Is Solana Next?”, projects SOL’s price could rise substantially, potentially up to ninefold under favorable conditions.
Founded by Anatoly Yakovenko and Raj Gokal in 2018 and launched in 2020, Solana features high throughput, scalability, and low transaction costs, supporting a variety of dApps.
Recent ecosystem developments, including major token launches and migrations, have bolstered Solana’s market position, showcasing its growth and technological advancements.
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However, regulatory approval hinges on evolving US regulations, which currently require a federally-regulated futures market for crypto ETFs, criteria met only by Bitcoin and Ethereum.
GSR anticipates a possible shift in regulatory sentiment, driven by bipartisan support and legislative changes favoring new crypto ETFs like SOL.
GSR’s analysis also examines Solana’s decentralization metrics and market demand for Solana-based investment products, highlighting its strong decentralization profile and indicating robust potential demand for a Solana spot ETF.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
