Tomorrow the first ETF for SOL is going to launch, and the key is that this one is backed by staking!

However, after the news was released last night, $SOL didn’t rise much, indicating that this good news has already been largely digested by the market.

Here’s how I see the upcoming trend for $SOL:

In the short term, once the ETF goes live, the market will likely 'cash in on the good news', leading to a sell-off, so $SOL might experience a pullback first;

But in the medium term, the launch of the SOL ETF will still bring a wave of activity, possibly pushing to challenge previous highs.

Overall, among the various altcoin ETFs, the SOL ETF is the most worthy of attention and has the most potential.

Why do I say that? From the perspectives of user numbers, TVL, on-chain trading activity, ecosystem completeness, market capitalization, and market recognition, Solana can basically maintain its position as 'the third dragon'. Moreover, given Ethereum's current weakness, Solana has a good chance of taking the 'second dragon' throne.

So if traditional institutions really want to allocate to altcoin ETFs, the SOL ETF is definitely the first choice.

The above is just my personal opinion and does not constitute investment advice, DYOR.