The race for Solana ETFs is heating up: 8 companies in the running
The race for Solana ETFs is accelerating with now eight companies in the running! 🚀 VanEck blazed the trail a year ago, quickly followed by 21Shares, Canary Capital, Bitwise, Grayscale, Franklin Templeton, Fidelity, and the newcomer CoinShares.
All candidates have submitted revised S-1 documents including information on staking as required by the SEC. This suggests that we are in the final stages of approval, with potential launches as early as July.
Meanwhile, the price of SOL has cooled, dropping from around 142.$ to 135.$ over the weekend with a decrease in trading volume. This consolidation could be the calm before the storm if ETF approvals materialize.
The SEC's approach remains a key question - will they follow the "first come, first served" principle favoring VanEck, or will they approve all applications simultaneously as they did for Bitcoin and Ethereum ETFs? In any case, institutional access to SOL is about to become much easier! 🌊