When the entire market was still asleep, a piece of news exploded like thunder, instantly igniting the raging fire of the crypto market! That’s right, Grayscale Investments has made another move before Trump is about to take office as the US President in 2025. Who is it targeting this time? It is the Solana token SOL, which has been in the limelight recently!

On Wednesday (December 4), the price of SOL soared like a rocket, breaking through the $240 mark! Behind all this, it was the SOL ETF that Grayscale Fund formally applied to the New York Stock Exchange that was at work. Just a few weeks ago, the New York Stock Exchange had just obtained approval from the U.S. Securities and Exchange Commission (SEC) to open Bitcoin ETF options trading. This time, can Grayscale lead the rise of the crypto market again?

Wall Street is destined to be extraordinary in 2024. With the approval of 11 Bitcoin spot ETFs by the US Securities and Exchange Commission at the beginning of the year, the Bitcoin and cryptocurrency markets have ushered in an unprecedented surge. Now that trading is gradually maturing, the crypto community is gearing up for the arrival of other altcoin ETFs. And Solana ETF seems to be the next focus of everyone's attention!

Since the Grayscale Bitcoin Spot ETF (GBTC) was launched in January, it has been one of the most successful Bitcoin ETFs. Now, with the rapid growth of the Solana ecosystem and its native cryptocurrency, major companies are rushing to attach futures ETFs to the SOL token. Are you ready for this feast in the crypto market?

What’s even more exciting is that the Ripple (XRP) ETF may also be approved! This means that 2025 may become a bigger year for cryptocurrency investment. Grayscale Solana Trust, as the largest trust of its kind in the world, has managed assets of up to $134.2 million! Is this just the beginning, or the tip of the iceberg?

Documents submitted by Grayscale show that they hope to list and trade the trust shares as an ETP on the exchange, providing investors with a safe and reliable way to invest in SOL on a regulated national securities exchange. With the upcoming reorganization of the U.S. Securities and Exchange Commission, the Solana ETF is expected to be approved faster than its predecessor, the Bitcoin spot ETF!

Gensler, chairman of the U.S. Securities and Exchange Commission, has long held an unfriendly stance toward Bitcoin and cryptocurrencies, but he has announced his resignation on the day Trump is sworn in. This is undoubtedly a shot in the arm for Wall Street to submit an application! If the Solana ETF is really approved, the United States will usher in the third cryptocurrency-based ETF! Bitcoin was the first, followed by the Ethereum ETF. This time, can SOL replicate Bitcoin's success or even surpass it?

In addition to Grayscale, participants such as 21Shares, Canary Capital, VanEck and Bitwise have also submitted similar applications. The battle for ETFs in the crypto market has quietly begun! Solana has become increasingly prominent in the cryptocurrency field with its rapid adoption and innovative technology. In the past year, the value of SOL has soared 275%, with a market value of more than $110 billion! Such rapid growth, how can it not make people excited?

Today, the demand for investment products related to Solana has surged, and ETFs have become a convenient entry point for institutional and retail investors. Do you also want to seize this opportunity and become the next winner in the crypto market?

Mlion Analysis: Grayscale's move this time is not only a reflection of its optimism about the SOL token, but also a reflection of its confidence in the future of the entire crypto market. As more and more ETFs are approved, the crypto market will become more mature and standardized. This is undoubtedly a huge opportunity for investors!

In this volatile crypto market, every fluctuation may bring unexpected surprises. Grayscale is once again creating a crypto storm. Can SOL become the next ETF king? If you want to know more about the latest developments in the cryptocurrency world, you can try Mlion (please visit: 🤖👉mlion.ai). As an AI investment research assistant in the Web3 field, Mlion combines real-time news with AI in-depth analysis to provide you with accurate market insights and investment advice. Whether it is currency price prediction, project research reports, or quickly capturing market hotspots, Mlion can help you seize opportunities in advance.

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The above content is for information sharing only and does not constitute any investment advice! Investment is risky, so be cautious when entering the market!

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