The price of Solana-SOL rose by 7% within an hour to $148 after major investment firm VanEck submitted an application to launch a Solana spot exchange-traded fund (spot SOL ETF).
VanEck's order follows the launch of its spot BTC ETF last January, as well as its recent order for a similar Ethereum ETF, which may launch within the next few weeks.
News of its plans to launch a Solana exchange-traded fund (SOL ETF) has pushed the price of the altcoin higher, with its price currently rising by 8% in 24 hours, and 7% in a week.
Although Solana's price is still down 13% on its one-month change, the spread of VanEck news could push its price higher, and the launch of an exchange-traded fund (ETF) could eventually help it reach all-time highs. Later this year.
