SOL ETF application makes Sol soar: will it hit new highs in the future?

SOL rises 9% to $150 after VanEck launches SOL ETF

A market maker has since gone long on SOL, predicting that its price could rise 8.9 times.

Asset management company VanEck launched the first US spot Solana [SOL] ETF application on June 27, boosting optimism about the SOL token. The token rose 9.4% during intraday trading hours that day.

However, unlike Bitcoin [BTC] and Ethereum [ETH], SOL has no future ETF-based products, which may affect SEC approval.

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But Bloomberg senior ETF analyst Eric Balchunas pointed out that the situation may change with the coming of the new government.

SOL ETF will drive the price up 8.9 times?

Another policy observer, Van Burien Capital financial lawyer Scott Johnsson, also expressed Balchunas's opinion. Johnsson added that the Solana ETF could be approved without a futures ETF like BTC and ETH.

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