Solana

Spot

<p>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.</p> 
<h2 id="will-vaneck-push-for-spot-solana-etf">Will VanEck Push for Spot Solana ETF?</h2> 
<p>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">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.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">A surprising amount of people asked us about Solana at our Bitcoin booth</p> 
 <p>— VanEck (@vaneck_us) <a rel="nofollow" href="https://twitter.com/vaneck_us/status/1817007127459696797?ref_src=twsrc%5Etfw">July 27, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>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">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.</p> 
<p>Also Read: <a href="https://coingape.com/anthony-scaramucci-clears-air-on-political-debate-on-crypto/" target="_blank" rel="noopener">Anthony Scaramucci Clears Air On Political Debate On Crypto</a></p> 
<h2 id="sol-surpasses-bnb-for-4th-spot">SOL Surpasses BNB for 4th Spot</h2> 
<p>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.</p> 
<p>Over the past two weeks, the <a href="https://coingape.com/price/solana/" target="_blank" rel="noopener">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%.</p> 
<figure id="attachment_209738" aria-describedby="caption-attachment-209738" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209738" src="https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge.jpeg" alt="" width="2797" height="1777" srcset="https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge.jpeg 2797w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-300x191.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-1224x778.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-768x488.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-1536x976.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-2048x1301.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-150x95.jpeg 150w" sizes="(max-width: 2797px) 100vw, 2797px">
 <figcaption id="caption-attachment-209738" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/santimentfeed/status/1816886540938936439" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>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 $202 with the <a href="https://coingape.com/markets/solana-price-aims-for-220-after-15-tvl-surge-in-july/" target="_blank" rel="noopener">Solana TVL</a> surging by 15% this month.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><a rel="nofollow" href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a></p> 
 <p>Looks like the Solana retest was successful</p> 
 <p>Continue to hold this red area as new support and SOL will be able to at least revisit the $202 resistance over time<a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a rel="nofollow" href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a rel="nofollow" href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw">#SOL</a> <a rel="nofollow" href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> <a rel="nofollow" href="https://t.co/63TiOIipdR">https://t.co/63TiOIipdR</a> <a rel="nofollow" href="https://t.co/WC1MC1iH2h">pic.twitter.com/WC1MC1iH2h</a></p> 
 <p>— Rekt Capital (@rektcapital) <a rel="nofollow" href="https://twitter.com/rektcapital/status/1816822764856131685?ref_src=twsrc%5Etfw">July 26, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Also Read: <a href="https://coingape.com/bitcoin-price-to-hit-13m-michael-saylor-predicts-amid-btc-rally/" target="_blank" rel="noopener">Bitcoin Price To Hit $13M, Michael Saylor Predicts Amid BTC Rally</a></p> 
<p>The post <a href="https://coingape.com/vaneck-teases-solana-etf-again-as-sol-surpasses-bnb-for-4th-spot/">VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

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

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