Polymarket Sees 79% Odds for US Solana ETF Amid 11% Weekly Gain
After several solana-based exchange-traded funds (ETFs) debuted on the Toronto Stock Exchange (TSX), solana climbed more than 11% over the past seven days, earning its place as the leading gainer among the ten largest crypto assets by market capitalization.
Solana Advances 11% on TSX ETF Debut; Polymarket Bettors Wager on U.S. ETF Listings
Solana ( SOL) has seen respectable gains this week, advancing 11% over the past seven days, yet it endured a 1% decline in the last 24 hours. The weekly increase led the top ten crypto assets by market cap, although SOL remains more than 29% below its value at the start of the year. Observers attribute the latest uptick to the debut of SOL-based exchange-traded funds on the TSX, Canada’s principal stock market in Toronto, Ontario.
Polymarket bettors wager there’s a 79% chance a SOL ETF will be approved in the United States by the SEC.
The products are spot solana ETFs, each backed by direct SOL holdings, with some incorporating staking options. Although SOL outperformed BTC throughout 2024, it has fallen 21.9% against the dominant crypto asset so far this year as of April 18. Solana has garnered strong support in South Korea, where the won ranked as SOL’s fifth-largest trading pair this week and the second-largest fiat counterpart to the greenback. On Friday, markets such as Upbit showed SOL trading at a 2.15% premium versus the weighted global average.
While Canada has greenlit solana ( SOL)-based publicly traded funds, the U.S. Securities and Exchange Commission (SEC) has not yet endorsed a spot ETF. Seven prominent U.S. asset managers — Fidelity, Franklin Templeton, Grayscale, Vaneck, 21shares, Canary Capital, and Bitwise — have filed for SOL ETF listings. As of April 18, Polymarket shows a 79% probability that a spot solana ETF will receive U.S. approval.#solana
