According to ChainCatcher, Matrixport released a chart today stating that Grayscale has submitted an application to convert the Solana Trust into a spot ETF. Although the current assets under management for this product are relatively small at $134 million, if approved, it would set an important market precedent for other ETF issuers. It is particularly noteworthy that Solana's financing rate is currently as high as an annualized 70%, which puts significant pressure on leveraged long positions. Historical experience shows that similar high financing rates are often associated with price corrections, as was the case in March this year when the SOL-USDT price fell in a similar financing rate context.
In the weekly (Matrix on Target) report, it was mentioned that after Trump's election as president, he is expected to nominate crypto-friendly legal advisor Paul Atkins as the next chair of the U.S. Securities and Exchange Commission (SEC). If this nomination comes to fruition, it is anticipated to have a positive impact on the crypto industry.
