New York-based investment firm VanEck has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to launch a physical Solana exchange-traded fund (ETF). The move marks the first U.S. filing for the Solana ETF, with SOL prices surging nearly 10% to $150 at press time.
VanEck's proposal is a significant step forward for Solana, which has been in the spotlight in recent months. The firm's research predicts a wide range of possible valuations for Solana by 2030, from a bearish $9.81 to a bullish $3,211.28, depending on different market conditions.
The Solana ecosystem has been experiencing mixed signals, with prices surging recently despite bearish online activity. On-chain indicators show a decline in the number of active addresses and new users, which may lead to weaker trading sentiment. However, the total value locked (TVL) in the Solana network increased significantly to $4.2 billion, demonstrating growing trust and participation in the ecosystem.
The market is currently closely watching the SEC’s response to VanEck’s proposal, which could have significant implications for the future of Solana and the broader cryptocurrency market. Investors eagerly await the results of this development as the price of SOL continues to fluctuate.
〈VanEck applied to SEC for Solana ETF, SOL price soared by about 10%〉 This article was first published on "Blocker".
