Big news in the cryptocurrency world!!!
The Chicago Board Options Exchange, one of the world's largest exchanges, which hosts multiple Bitcoin and Ethereum spot ETFs, officially submitted the Solana ETF application of Vanda and 21 Shares to the China Securities Regulatory Commission, shocking everyone. There are three points that are very exciting: Cooperation application: Vanda has been fighting alone before, and now 21 Shares has also joined the ranks of applying for Solana ETF. 21 Shares has a great background. It cooperates with Ark Fund and launched the first batch of Bitcoin ETFs with BlackRock at the beginning of this year. Institutional participation: Since Vanda took the lead, more and more institutions have joined the Solana ETF application, which is a positive signal for Sol price.
Clear time frame: After the ETF application is submitted, its deadline will also be clear, usually 240 days, that is, until February next year, just in time for the middle of the bull market, which is very exciting. What's more exciting is that Solana's trading data is extremely strong. Its 24-hour trading volume has repeatedly exceeded Ethereum, and its 7-day total trading volume is on par with Ethereum, firmly sitting in the top spot. Therefore, Sol's potential is actually underestimated by many people. It is very likely that it will reach 700 or even 1000u in this bull market.
