After Bitcoin and Ethereum, Solana also caught the popularity of ETF.
The official announcement on July 8 showed that Cboe had filed 19b-4 filings with the US SEC on behalf of VanEck and the 21Shares Solana ETF, meaning that the SOL ETF has officially entered the approval process. As early as June 28, VanEck and 21Shares announced that they had filed SolanaETF's S-1 filing with the US SEC, with VanEck even publishing an open letter to explain the move. Coincidentally, a few days ago rumors had filtered through the market that BlackRock might also apply for the SOL ETF.
It is difficult to say whether the rumors are true or false, but it is a fact that some institutions are paying attention to this seemingly impossible ETF. It remains unclear whether this operation is an attempt by institutions to exaggerate or to pre-empt the market. inconclusive but what is certain is that, whether the application is approved or not, the SOL excitement has started successfully.
In June, when the Ethereum ETF successfully inverted, there was widespread heated debate in the market about who would be the next ETF. In the discussions at that time, $BCH , LTC, DOGE etc. were used in target selection. were involved, but among them, the $SOL had the loudest voice.
The reason is quite simple. To apply for an ETF, the currency must have sufficient consensus value and sufficient market depth, otherwise the issuer will face selling problems. SOL's market cap has been among the top five cryptocurrencies throughout the entire year. $USDT above this clearly does not meet the application requirements and $BNB is in limbo due to lawsuits from the US. In contrast, the availability of the SOL ETF is uncertain. particularly extraordinary.
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