What are the Prospects for Solana ETFs?
Solana is lined up as a crypto candidate to become the next commodity exchange-traded fund (ETF) after Ethereum. However, the Chicago Mercantile Exchange (CME), which was previously rumored to be a market for SOL, instead emphasized that there are no plans to offer Solana ($SOL) derivative products in the near future.
James Seyffart, an ETF analyst from Bloomberg, said that the emergence of a Solana ETF is unlikely in the near future given the tight regulations in the United States.
In addition, Solana experienced significant network congestion problems, causing transaction failure rates to reach 75% due to "spam bots". This bottleneck also gave rise to another controversy regarding the previously undisclosed supply of SOL tokens, namely 13 million additional tokens.
SOL prices responded negatively to this news by depreciating market value from US$200 to US$165 per unit due to this case. The decline was also accompanied by trading volume which also fell 17% in the last 24 hours.
