After Bitcoin hit a low of $60,055 last Saturday, it continued to fluctuate in a narrow range around $61,000. However, it has continued to rise since it broke through $62,000 at 6 a.m. today (1). At the time of writing, the highest price reached $63,559, an increase of 4.27% in the past 24 hours.
Ethereum breaks through $3,400
As for Ethereum, its trend is similar to that of Bitcoin but its growth is slightly weaker. At the time of writing, it is trading at $3,459, up 3.37% in the past 24 hours.
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ETH price trend｜Source: OKX
In the past 24 hours, the entire network has liquidated $112 million
Amid the volatility of Bitcoin's surge, according to Coinglass data, in the past 24 hours, the total amount of cryptocurrency liquidations exceeded US$112 million (short positions accounted for US$79 million), and nearly 35,000 people were liquidated.
21Shares Submits Application for Wall Street Solana ETF
CoinTelegraph reported that 21Shares' proposed fund will be called 21Shares Core Solana ETF and will not participate in SOL token staking. The proposed ETF will be traded on the CBOE BZX exchange, and Coinbase will serve as the custodian of the fund's Solana holdings, which will be privately underwritten. The fund's assets will be stored in an independent wallet on the Solana blockchain and will not participate in verification or staking of SOL.
According to the filing, 21Shares’ application is based on the premise that Solana is not a security under U.S. law. If the digital currency is classified as a security by the SEC, 21Shares may withdraw its application. The premise of withdrawing the application is that 21Shares may not be willing to further meet additional registration requirements.
When the SEC approved Bitcoin spot ETFs for trading, the discussion around Solana ETFs began to heat up. With the approval of 19B-4 filings for eight Ethereum spot ETFs last month, altcoin hype for the product also increased. If the factors that led to the SEC's approval of Ethereum apply, 21Shares and VanEck remain optimistic that Solana's ETF may also be approved.
