Solana's price gains 4.89% in 24 hours, signaling positive market momentum ahead of potential ETF approval in 2025.
SEC talks with Solana ETF issuers intensify, fueling optimism that approval could happen sooner with changing industry dynamics.
Major firms like VanEck and Bitwise are pushing for Solana ETF approvals, while market stability supports growing investor confidence.
Eleanor Terrett a Fox Business reporter said that recent discussions between issuers looking to introduce a Solana spot ETF and the U.S. Securities and Exchange Commission are moving forward. Staff discussions on the S-1 applications are moving forward, with some potential filings expected soon. These filings could be the next step in the process to get a Solana ETF approved. The SEC’s engagement with issuers has sparked optimism that approval might occur in 2025.
https://twitter.com/EleanorTerrett/status/1859611713579999366 Solana’s Price Surge and Market Activity
Solana's price has seen a noticeable upward trend, rising from about 251.86 to 252.58. The price increase reflects a 4.89% gain over 24 hours, indicating positive momentum. The candlestick chart shows multiple price fluctuations, with a sharp spike occurring around 18:35 UTC. A brief consolidation followed this peak, suggesting investor confidence in the short term.
The chart reveals a slight difference between the market price (252.582) and the mark price (252.169), indicating a small gap. This difference shows that the current market conditions are stable, with minimal fluctuations.
Furthermore, the index price at 251.758 reflects a close alignment with the market price, reinforcing the market’s stability. The 24-hour high of 253.681 and the low of 229.886 demonstrate a range that provides insights into short-term price movements.
Source: Eleanor Terrett
Renewed Optimism for Solana ETFs
Solana’s market performance coincides with growing optimism around the potential approval of Solana ETFs. Eleanor Terrett’s report highlights that recent engagement from SEC staff and the shift toward a pro-crypto administration have contributed to this sense of hope.
Several prominent issuers, including VanEck, 21Shares, CanaryFunds, and Bitwise, have filed their S-1 applications for a Solana ETF. The next crucial step in the approval process involves exchanges like CBOE filing 19b4 forms, and seeking SEC approval for listing these ETFs.
While past ETF filings faced setbacks, the renewed optimism reflects changing industry sentiment. The SEC’s recent engagement suggests a potential shift in its stance. However, industry analysts are still wary of the SEC's judgment, and clearance is not assured. In spite of the difficulties, Solana's upward price momentum keeps Supporting anticipations for the impending approval of the Solana ETF.
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