The Unexpected Twist in the Spot Solana ETF Battle, Check Now!

Why Asset Managers Are Betting Big on Solana ETFs

Solana is stealing the limelight as CoinShares might launch a Spot Solana Exchange Traded Fund, submitting its S-1 form to the U.S. Securities and Exchange Commission (SEC).

With seven others, spot Solana ETF has joined the race with other issuers, including Fidelity, Grayscale, Bitwise, and Canary, which filed its updated S-1 last Friday. 

Source: Coin Shares 

But the real question is, will this Coin face another regulatory hurdle, or will the SEC agree to corporate or approve the plan?

Why does CoinShare's joining the Solana ETF change everything?

According to the filing with the US SEC on June 16, to launch its own spotlight, the European Asset Manager CoinShares submitted an S-1 form. As sponsors, CoinShare Co. and Coinbase custody were mentioned in the filing, and the BitGo trust was the custodian.

Also, the plans were exposed by the filings to stake a portion of holdings of the fund’s SOL in seeking the SEC’s approval. CoinSare becomes the eighth issuer for a Spot Altcoin Fund.

“If they include staking, the net flows could be better out of the gate vs ETF's launch. If they launch without staking, I’d probably say very unlikely.”- James Seyffart (Bloomberg Exchange Traded Fund Analyst)

To keep the global crypto market speculating, whether BlackRock could file for Spot Coins was briefly discussed by the two experts.

Now, if we imagine the eight heavyweight financial firms, including Fidelity, Grayscale, and now Coinshare,s are all racing to launch the first ever Altcoin ETF. It’s the Olympics but in a Crypto version with billions at Stake.

CoinShare rushes to Delaware. Why?

Last week in Delaware for the SOL Exchange Traded Fund Trust registration, CoinShare moved quickly. From grabbing attention to sparking bullshit prospects for the approval of a spot solana etf through SEC.

To update the language for kind redemptions and approach staking for issuers, the SEC informed the issuers. 

The odds from 80% to 90% were raised by Bloomberg ETF Analysts, believing the 1940 staking ETF is under the Investment Company Act might influence the decision-making of the SEC. The tracking Solana price might be approved from 2 to 4 months, believed to Balchunas.

Invesco and Mike Novograt’s Galaxy Digital is the manager of $1.7 trillion assets. On Friday registered for the Coins Exchange Traded Fund Trust in Delaware as part of their partnership.

Why Solana ETF can be a game-changer?

In 2024 ,after Bitcoin Exchange Traded Funds exploded, Etherium Exchange Traded Funds were next in line and now solana wants its turn but and below is why it matters :

• Institutional Money Floodgate : If this gets approved then Wall Street could pour billions of Altcoin's overnight.

• Staking : (Means Free Crypto) Unlike Bitcoin , the solana etf’s might offer staking Rewards , which means you could get a passive income by your  etf Holdings.

• $300 SOL Price : If Bitcoin could pump its Price , solana could do the same or they can do even better said by the Analysts.

While some agree but not everyone is convinced, Meanwhile SEC still sees this coin as Potential Security. 

Is $300 SOL Possible?

Currently sitting at $151.39 at the time of writing, SOL is down by 3.37% since the ETF news dropped. Meanwhile the Crypto trader are focusing more on the Long Term Investmets rather than looking at short term volatility.

• $200 Number : Which is considered as the Magical no. because since january SOL did’nt touched this no., Broke it and $300 became realistic, Stock Exchange Traded Fund would unlock billions in capital.

• ETF Approval : The talks with this Fund were not sufficient to bring a considerable recovery as SEC’s  decision were still pending. But if SEC greenlights this, SOL could  skyrocket just like Bitcoin did post exchange traded fund.

Should you Buy SOL? Will it be Worth it?

If you have believe in SOL Tech and Exchange Traded Fund's hype, this might be your chance .

Although there are some key pointers which needs to be remembered :

• Approval of Exchange Traded Fund is not a Guarantee.

• You should be prepared for the Ups and Downs as the Volatility will be wild.

• $200 is the key level to watch.

Some other Analysts expects more than $200 spike of the SOL .Last time these Altcoins traded above $200 in january , The price has failed till then to hit above $184 , kepping the Traders cautious since then.