🚀 Solana (SOL) Shoots Up with Spot ETF Rumors
Solana (SOL) rose about 5%, breaking past $164, following news that the SEC (U.S. Securities and Exchange Commission) is moving forward in the process to approve spot ETFs for SOL.
✨️What's happening:
✅️The SEC requested adjustments to the (S-1) documents from issuers trying to launch Solana ETFs.
✅️These comments should be made in the next 30 days, indicating that the analysis is active.
✅️Managers like Fidelity, Grayscale, VanEck, and Franklin Templeton are already in line to launch spot SOL ETFs.
✅️The movement follows the trend of already approved Bitcoin and Ethereum ETFs.
📈 The news boosted SOL's price above $164, with strong buying volume and short-term speculation.
🟢Spot ETF = Entry of institutional capital.
Solana could be the next major asset to gain a regulated vehicle in the U.S.