- 21Shares has filed for the Solana (SOL) ETF, with its Core Solana ETF submitting coming a day after VanEck's Solana Belief.
- The worth of SOL hovered round $142 after the information, rising sharply after VanEck's submitting on Thursday.
Solana (SOL) ETF mania is gaining momentum as one other issuer has utilized for a Solana ETF spot.
A day after VanEck filed an software for the same exchange-traded fund with the U.S. Securities and Alternate Fee (SEC), 21Shares filed its personal software.
21Shares information for Solana ETF
In accordance with the submitting, the 21Shares Core Solana ETF will commerce on the Cboe BZX Alternate and “monitor the efficiency of SOL, Solana's native blockchain digital asset.”
“21Shares is worked up concerning the potential of a US exchange-traded product (ETP) that gives entry to the Solana ecosystem. We imagine it is a crucial step for the crypto business and true to our mission of bringing simply accessible monetary merchandise centered on crypto belongings to market,” the agency wrote on X.
VanEck was the primary to file a SOL ETF within the US
VanEck and 21Shares are actually the primary two asset managers to use for SOL spot ETFs within the US, and it could possibly be a query of who shall be subsequent because the business gears up for spot Ethereum ETFs. The SEC authorised the Ether ETF in Might, and specialists say the ultimate nod earlier than the merchandise hit the exchanges might come as early as subsequent week.
Eric Balchunas, senior ETF analyst at Bloomberg for Solano, says it could be too early to set a date for potential approval. Nevertheless, the “probability that the Solana ETF shall be authorised” within the subsequent 12 months might enhance considerably if Trump wins this 12 months's election.
SOL worth amid ETF information
On Thursday, the worth of Solana rose sharply because the market reacted to VanEck's submitting.
On Friday, the cryptocurrency pared most of its features because the broader ecosystem rallied underneath sustained downward strain.
Nevertheless, whereas Bitcoin struggled under $61,000 and Ether struggled close to $3,400, SOL struggled to return above $142. Not like BTC and ETH, which fell by 4.5% and three% respectively within the final week, the worth of Solana elevated by 8%.
