Following the successful launch of spot Bitcoin and Ethereum exchange-traded funds (ETFs), investors are now turning their attention to the potential of Solana ETFs.
Solana's Market Position
Solana, the fifth most popular cryptocurrency, boasts a market capitalization exceeding $82 billion. Despite facing challenges during the FTX collapse in 2022, Solana has rebounded due to its lower fees and success with memecoin issuers.
Institutional Interest
Global investment firm Franklin Templeton is among those advocating for a Solana ETF. They highlight Solana's significant adoption and technological maturity. Franklin Templeton, an issuer behind spot Bitcoin and Ethereum ETFs, believes Solana’s high-throughput architecture holds promise.
Recent Trading Activity
Solana has seen $2.9 billion worth of trades in the last 24 hours, indicating strong market interest.
Future Prospects
ETF analysts foresee a surge in crypto ETFs, with VanEck and 21Shares filing applications for Solana ETFs. We expect the SEC to respond to these filings by mid-March 2025. Analysts predict more issuers will follow, driven by the success of Bitcoin and Ethereum ETFs.
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