Solana

ETF COIN

Spot

Now that the spot Ethereum ETFs have traded for almost a week on Wall Street, investors are keenly eyeing the next crypto ETF and gunning for the second-largest altcoin Solana. Interestingly, asset management giant VanEck is once again teasing the possibility of introducing a spot Solana ETF.
<h2 id="will-vaneck-push-for-spot-solana-etf">Will VanEck Push for Spot Solana ETF?</h2>
During the ongoing Bitcoin conference, VanEck recently shared a tweet stating that a large number of attendees inquired about Solana with them. As we know, VanEck submitted its Solana ETF filing in the last month of June even before the <a href="https://coingape.com/ethereum-foundation-moves-92500-eth-ether-etf-outflows-surge/" target="_blank" rel="noopener noreferrer nofollow">spot Ether ETFs</a> went live. The recent tweet from VanEck suggests that there’s a strong interest in the altcoin and liquidity won’t be a major hurdle for the SEC to approve a Solana ETF.
<blockquote class="twitter-tweet">
 A surprising amount of people asked us about Solana at our Bitcoin booth
 — VanEck (@vaneck_us) <a rel="noopener noreferrer nofollow" href="https://twitter.com/vaneck_us/status/1817007127459696797?ref_src=twsrc%5Etfw">July 27, 2024</a>
</blockquote>

However, other asset management giants like BlackRock are not much in support of having more <a href="https://coingape.com/blackrock-crypto-chief-denies-chances-of-solana-xrp-etf-approval/" target="_blank" rel="noopener noreferrer nofollow">Solana ETF</a> or other crypto ETFs in the market. Speaking at the Bitcoin Conference, BlackRock Head of Digital Assets Robert Mitchnick said that the SEC would be drawing a line somewhere. He added that apart from Ethereum, all other altcoins contribute less than 5% of the total crypto market cap. Thus, he believes that it makes no sense to have more crypto ETFs in the market.
Also Read: <a href="https://coingape.com/anthony-scaramucci-clears-air-on-political-debate-on-crypto/" target="_blank" rel="noopener noreferrer nofollow">Anthony Scaramucci Clears Air On Political Debate On Crypto</a>
<h2 id="sol-surpasses-bnb-for-4th-spot">SOL Surpasses BNB for 4th Spot</h2>
In the latest development, Solana (SOL) has managed to surpass Binance Coin (BNB) as the fourth-largest cryptocurrency by market cap This is the first time in four years that SOL has managed to overtake BNB in the recent run-up.
Over the past two weeks, the <a href="https://coingape.com/price/solana/" target="_blank" rel="noopener noreferrer nofollow">Solana Price</a> has been on a solid recovery path gaining more than 35%. In the same period, The Binance Coin (BNB) is up by 10%.
<figure style="width: 100%" class="wp-caption aligncenter">
 <img src="https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge.jpeg" alt="" width="2797" height="1777">
 <figcaption>
 Courtesy: <a rel="noopener noreferrer nofollow" href="https://x.com/santimentfeed/status/1816886540938936439" target="_blank">Santiment</a>
 </figcaption>
</figure>
As of press time, the SOL price is trading at 3.88% up at $182 with bulls holding firmly above the crucial support level of $175. Popular crypto analyst Rekt Capital stated that Solana has managed to successfully hold above the support eyeing its next move to $202 with the <a href="https://coingape.com/markets/solana-price-aims-for-220-after-15-tvl-surge-in-july/" target="_blank" rel="noopener noreferrer nofollow">Solana TVL</a> surging by 15% this month.
<blockquote class="twitter-tweet">
 <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>
 Looks like the Solana retest was successful
 Continue to hold this red area as new support and SOL will be able to at least revisit the $202 resistance over time<a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw">#SOL</a> <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> <a rel="noopener noreferrer nofollow" href="https://t.co/63TiOIipdR">https://t.co/63TiOIipdR</a> <a rel="noopener noreferrer nofollow" href="https://t.co/WC1MC1iH2h">pic.twitter.com/WC1MC1iH2h</a>
 — Rekt Capital (@rektcapital) <a rel="noopener noreferrer nofollow" href="https://twitter.com/rektcapital/status/1816822764856131685?ref_src=twsrc%5Etfw">July 26, 2024</a>
</blockquote>

Also Read: <a href="https://coingape.com/bitcoin-price-to-hit-13m-michael-saylor-predicts-amid-btc-rally/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price To Hit $13M, Michael Saylor Predicts Amid BTC Rally</a>
The post <a href="https://coingape.com/vaneck-teases-solana-etf-again-as-sol-surpasses-bnb-for-4th-spot/" rel="noopener noreferrer nofollow">VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot

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