The excitement in the cryptocurrency market is at its peak! The US Securities and Exchange Commission (SEC) has requested critical documents that could accelerate spot #etf applications focused on Solana ($SOL ). According to rumors behind the scenes, the first approvals are on the way in July!
According to leaked information, the SEC has asked companies that have applied to update details such as staking and in-kind redemptions. According to experts, this move could pave the way for Solana ETFs to be launched in the next 3 to 5 weeks!
Spot ETF Race Heats Up: Are Solana, XRP, ETH and BTC in the Same Basket?
After the approval of Bitcoin (BTC) and Ethereum (ETH) ETFs, the eyes are now turned to altcoin giants such as Solana and XRP. Although the SEC has not yet given the green light to these applications, recent developments are promising.
Exciting statements also came from Bloomberg's senior ETF analyst Eric Balchunas. Balchunas winked at the markets by saying, “In July, we could see multiple spot ETF baskets including major cryptos like Solana, XRP, Ethereum, and Bitcoin.” It is also stated that companies are developing creative strategies to get the first approval.
Prices Soared! Shares Soared!
Solana price took off due to the SEC news. SOL jumped from $158 to $164, up 4%. Not only that! Shares of companies affiliated with Solana also soared:
🚀 DeFi Development Corp. up 17%
🚀 #sol Strategies up 8.4%
