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Today we will learn about: Solana ETF
1. Hot event:
VanEck applied for the first Solana ETF in the United States
2. Event description:
VanEck is a company that specializes in providing various investment funds and ETFs. It is also an applicant for BTC ETF and ETH ETF.
VanEck explained the reasons for applying for Solana ETF:
(1) Competitive advantage: Solana is a strong rival of Ethereum;
(2) Similarity: SOL is similar to BTC and ETH in function and has certain potential;
(3) Wide application: Solana ecosystem supports everything from DeFi to NFT, showing the practicality and value of SOL;
(4) Market potential: Solana may be a valuable commodity for investors, builders and entrepreneurs looking for an alternative to the duopoly.
3. Event progress:
If today is the first day of submitting the Solana ETF application, the first review date will be August 11, 2024, and the last review date will be the end of February 2025.
4. Event Analysis:
(1) Solana ETF application is the biggest positive for SOL at present;
(2) SEC has not yet approved the launch of ETH ETF, and it may take longer for Solana ETF to be approved.
5. $SOL Operation Suggestions:
After the impact of this incident, SOL rose by 10% in a single day, reaching a maximum of 150, and is currently stable at 147.
SOL can still be invested in at the current price, with an initial target of 160-170.
