(Friday 05 July 2024, 03:38 AM GMT):
In recent days, the cryptocurrency market has experienced a significant sell-off. Over the past 48 hours, the price of Solana (SOL) has dropped by 13.65%, bringing it down to $123.18. This sharp decline comes amidst the Bitcoin selling rumors from Germen Govt and Mt.Gox.
Two financial giants, VanEck and 21Shares, have filed applications for a Solana (SOL) spot Exchange Traded Fund (ETF). As the market eagerly awaits the final decision on these applications, an important update has emerged.
Nate Geraci, the President of The ETF Store, has hinted that a Solana spot ETF could be launched by next year. While Geraci didn’t specify an exact date, his statement has stirred excitement and speculation within the crypto community.
Not ruling out spot solana ETFs by this time next yr…
— Nate Geraci (@NateGeraci) July 5, 2024
The introduction of a Solana spot ETF would be a major milestone for the cryptocurrency market. Solana is known for its high performance, scalability, and fast transaction times. These features have helped it gain popularity in the crypto space. An ETF based on Solana would offer investors a new way to invest in this promising digital asset, potentially boosting its adoption and market value.