Listen, interesting news has emerged — the U.S. Securities and Exchange Commission (SEC) seems to be optimistic about the possible approval of ETFs on Solana. It sounds serious, especially if you remember how long the crypto market has been waiting for similar decisions on both Bitcoin and Ethereum. Now it looks like it's SOL's turn.
What happened? Over the past year, several major players such as Grayscale, Bitwise and VanEck have applied to create ETFs based on Solana. Recently, the SEC even asked them to make changes to the documents — the S-1 forms — within a week. This usually happens when the regulator is ready to move on to a more serious consideration and clarifies exactly how the fund's shares will be placed and the staking income will be processed. This means that things are moving forward.
The SEC is expected to give its response within 4-5 weeks. That is, if everything goes smoothly, ETFs on Solana can be approved as early as July or early August.
While discussions are underway, the market has already reacted: the volume of open interest in derivatives on SOL has grown to $ 7.35 billion, which is a billion more than a week ago. And over the past 24 hours, open interest in options has jumped by almost 19%! This suggests that traders are actively starting to speculate on the background of a possible approval.
Even the SOL price has noticeably perked up. Over the past six days, the asset has risen in price by 13%, from 141 to almost 165 dollars. But, as always in the crypt, not everything is so clear. Let's recall Ethereum: when its ETF was approved, the price initially rose, but soon sank — a typical "buy rumors, sell news" scenario.
Now everyone is wondering: will the approval of the Solana ETF become a take-off point, or will the market react the other way around, as it has already happened?
All this is happening against the background of the fact that the US government is actively discussing the regulation of stablecoins and digital assets. And in 2024, Solana showed excellent technical results — speed, stability, and scalability. If institutions really start entering Solana through ETFs, this can lead to a strong influx of liquidity and strong growth.
But you also understand that so far everything is at the level of expectations. The market likes to exaggerate.
So, the question is: if the SEC really approves the Solana ETF in July, would you buy SOL now or would you wait for the market reaction?
