
Solana (SOL) Price Update: Recent Movements and Growth Projections
VanEck forecasts an over 3% growth for the M2 money supply within this year.
VanEck forecasts an over 3% growth for the M2 money supply within this year.
Market analysts predict that Solana (SOL) will outperform Bitcoin (BTC) and Ethereum (ETH) in 2025, amid strong retail adoption and Solana ETF approval.
Despite the uncertainties on the regulatory front, Solana price continues to hold strong.
As the early excitement of Grayscale filing for Solana fizzles out, Solana faces a minor pullback. But will the growing bullish leverage drive the rally further?
Solana (SOL) price surged 12%, reaching a fresh all-time high of $263.70 following the Cboe Exchange’s submission of four 19b-4 filings for spot Solana ETFs by asset managers like VanEck, Bitwise, and 21Shares.
Bitwise has filed a statutory trust for a spot Solana ETF in Delaware, reflecting growing crypto demand in financial markets.
Solana’s climb has now placed it as the fourth-largest cryptocurrency position, following only Bitcoin (BTC), Ethereum (ETH), and Tether’s USDT.
The Hashdex Solana ETF will trade on the B3 Brazilian stock exchange as per the CVM database. On the other hand, US investors lose hope of the Solana investment product.
Solana price against Ethereum has broken out to a new all-time high, thus signaling rising crypto cash rotation to the altcoin industry.
Jake Chervinsky, the CLO at Variant Fund, said that there is no reason to believe that SOL is not security.
The potential approval of a Solana ETF by the SEC could further enhance its market position, although regulatory challenges remain.
A multi-crypto ETF is an investment fund that holds a diversified portfolio of cryptocurrencies, such as Bitcoin, Ethereum, and Solana, within a single security.
The price action of Solana (SOL), the fifth-largest digital asset by market capitalization, jumped more than 7% in the past 24 hours after the news of the filing.
The SEC is yet to acknowledge the Solana ETF filings from both VanEck and 21Shares. ETF analyst Nate Geraci highlighted that when these acknowledgments finally come, the decision clock will begin to tick.
The GSR report predicts a 9x rally in Solana price if the spot ETF debuts saying that Solana’s blockchain network utility improves the odds of SOL’s strong outperformance over Bitcoin.