๐๐๐ Solana ($SOL ) #Skyrockets 1,966% in Fund Flows: Is Solana ETF Possibility?
Solana (SOL) has recently witnessed an extraordinary surge in fund inflows, experiencing a remarkable increase of 1,966% within just a week. This surge firmly positions SOL as a standout leader in alternative #cryptocurrency -focused investment products, marking a significant milestone in its trajectory.
According to the latest report from CoinShares, an impressive $5.9 million has been directed towards SOL-related products during this short timeframe. This surge not only underscores SOL's dominance but also represents a nearly twenty-fold increase in inflows into Solana ETPs, amounting to a noteworthy $17 million since the beginning of the year.
While SOL experiences this notable uptrend, the broader market landscape tells a different story. Although investment products for digital assets saw a commendable $130 million inflow, volumes for ETPs witnessed a significant decline, dropping from April's $17 billion to $8 billion.
This trend indicates a decreasing involvement of ETP investors in the cryptocurrency ecosystem, now accounting for only 22% of the total volume on reputable global exchanges.
Speculation Surrounding a Solana ETF
- With the growing interest from traditional investors in SOL, speculation arises regarding the possibility of a Solana ETF.
- However, the feasibility of such an ETF closely hinges on the fate of the #EthereumETF . Given the regulatory obstacles it faces, the path to a Solana ETF appears equally challenging.
- Notably, regulatory uncertainty looms over the status of the Ethereum ETF, compounded by the SEC's classification of SOL as an unregistered security in last year's case against the Kraken exchange, further adding to the ambiguity.
- As investors eagerly await clarity on the ETF front, the potential for a Solana ETF remains speculative, contingent upon regulatory developments and the resolution of Ethereum's ETF dilemma.
Source - u.today
