Solana

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BlackRock

<ul>
 <li>A potential ETF filing by BlackRock for Solana could further boost its mainstream adoption and institutional investment.</li>
 <li>21Shares and VanEck also filed for Solana ETFs, indicating rising institutional interest in Solana.</li>
 <li>SEC finally approves spot Ether ETFs, possibly setting precedent for treating Solana and others as commodities worth noting.&nbsp;</li>
</ul>
According to the latest reports, Wall Street asset management giant BlackRock is getting ready to file an exchange-traded fund (ETF) for Solana (SOL). This follows earlier <a href="https://x.com/CryptoNobler/status/1801332697291210863" rel="noopener noreferrer nofollow">reports in June</a> that the global asset management had plans to initiate this process in July.&nbsp;
With more than $2.8 trillion in assets on the U.S. stock market, BlackRock is the largest ETF provider in the world and is now implementing actions that may accelerate Solana’s widespread acceptance.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 RUMOUR <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BLACKROCK MAY APPLY FOR <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> ( <a href="https://twitter.com/hashtag/SOLANA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SOLANA</a> ) ETF THIS MONTH. <a href="https://t.co/8YK0Ad0BhZ" rel="noopener noreferrer nofollow">pic.twitter.com/8YK0Ad0BhZ</a>— BITCOINLFG® (@bitcoinlfgo) <a href="https://twitter.com/bitcoinlfgo/status/1807754719001256259?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
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Other Firms Join the Solana ETF Race
Additionally, <a href="https://cryptonewsland.com/21shares-files-for-spot-solana-etf-joining-vaneck-in-sol-investment-race/" rel="noopener noreferrer nofollow">21Shares has submitted</a> its S-1 for a Solana ETF to the US authorities. According to the company, this is essential to democratizing bitcoin access in the US market. Andrew Jacobson, vice president and head of legal at 21Shares, said the company’s SOL ETP, which has grown to be its largest product to date, has been successful across Europe.
Jacobson expressed enthusiasm about the potential for a U.S. Solana ETF, emphasizing that it aligns with 21Shares’ mission to provide accessible financial products centered around crypto assets.
VanEck Enters the Fray
VanEck has registered for the <a href="https://cryptonewsland.com/vaneck-files-for-first-solana-etf-in-the-us-aiming-to-revolutionize-crypto-investing/" rel="noopener noreferrer nofollow">VanEck Solana Trust</a>, the first Solana ETF in the US, which is expected to gain momentum. By giving investors access to Solana’s own blockchain environment, this exchange-traded fund (ETF) seeks to replicate the company’s success.&nbsp;
Following the U.S. Securities and Exchange Commission’s (SEC) recent approval of spot Ether ETFs, which acknowledged Ethereum as a commodity rather than a security, VanEck filed this filing. Other digital assets, such as Solana, might receive comparable recognition in the future thanks to this precedent.
Possible Consequences for the Market
The filings made by VanEck, BlackRock, and 21Shares indicate that institutional investors are becoming more and more interested in Solana. These changes might give Solana more credibility and recognition as a worthwhile product.&nbsp;
Recent decisions around crypto assets from the SEC hint that evolution is leading to a regulatory landscape allowing for digital currencies within traditional ETF financial instruments. A potential entry into the Solana ETF market by BlackRock, 21Shares, and <a href="https://www.vaneck.com/fi/en/investments/solana-etp/overview/" rel="noopener noreferrer nofollow">VanEck</a> would be a pivotal moment for cryptocurrency.&nbsp;
As these firms push forward with their applications, the eventual result could impact exposure to Solana and its perception within the mainstream financial market. The forthcoming months will be critical in observing how these initiatives unfold and their impact on the future of crypto investments.
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-part-way-on-the-ethereum-etf-project/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Part Way on the Ethereum ETF Project</a></li>
 <li><a href="https://cryptonewsland.com/21shares-files-for-spot-solana-etf-joining-vaneck-in-sol-investment-race/" rel="noopener noreferrer nofollow">21Shares Files for Spot Solana ETF, Joining VanEck in SOL Investment Race</a></li>
 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-remove-staking-from-spot-ether-etf-proposal/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Remove Staking from Spot Ether ETF Proposal</a></li>
 <li><a href="https://cryptonewsland.com/sol-price-could-follow-historic-btc-and-eth-rally-as-sol-etfs-take-over/" rel="noopener noreferrer nofollow">SOL Price Could Follow Historic BTC and ETH Rally as SOL ETFs Take Over</a></li>
 <li><a href="https://cryptonewsland.com/solanas-meteoric-rise-vaneck-forecasts-3-2k-price-by-2030/" rel="noopener noreferrer nofollow">Solana’s Meteoric Rise: VanEck Forecasts $3.2K Price by 2030!</a></li>
</ul>
The post <a href="https://cryptonewsland.com/solana-etf-could-come-next-from-blackrock-could-this-trigger-a-new-sol-ath/" rel="noopener noreferrer nofollow">Solana ETF Could Come Next From BlackRock, Could This Trigger a New SOL ATH?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Solana ETF Could Come Next From BlackRock, Could This Trigger a New SOL ATH?

Crypto News Land

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