📝The Solana #solana ETF failed to maintain its market influence... according to Caico analysts.

✅SOL Brief Rally: Investors' hopes quickly fade despite ETF news

On June 27, Van Eck filed an application for Solana's first spot ETF with the US Securities and Exchange Commission (SEC), followed by a similar application from 21Shares on June 28.

These orders initially generated enthusiasm, causing the price of #SOL🔥🔥🔥🔥 to rise by 6%. However, Caico reveals that the effect was fleeting, and market dynamics soon returned to their previous state.

🔲Furthermore, Caico's analyzes indicate that investor expectations for Solana spot ETFs were not as high as for other cryptocurrencies such as Ethereum (ETH). Solana, often described as the “Ethereum killer,” has had difficulty maintaining its momentum.

🔶Kaiko also noted that the impact of Solana's ETF news on the derivatives market was limited. ⚪While there was a temporary spike in the volume-weighted funding ratio for the SOL token on June 27, it quickly returned to neutral levels. Open interest remained little changed and was 20% below its levels in early June, confirming the lack of sustained upside demand.