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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-boost-solana-interest-with-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Boost Solana Interest with ETFs</a><br></p>
<p style="text-align: justify">Whales are increasingly showing interest in <a href="https://en.bitcoinhaber.net/solanas-major-breakthrough-spurs-investor-confidence" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> as discussions about Solana ETF funds gain traction. Following the successful approval and launch of Bitcoin and Ethereum ETFs, both individual and institutional <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> have gained easier access to these digital currencies. Solana’s ecosystem, known for its high transaction speeds and low costs, is becoming more appealing, and potential ETF approval is expected to further enhance its demand and liquidity.</p>
<h2 id="what-drives-the-solana-trend">What Drives the Solana Trend?</h2>
<p style="text-align: justify">Onchain analytics from Lookonchain reveal that two major investors recently withdrew 238,893 SOL, valued at $41.4 million, from Binance. These assets were subsequently staked, indicating strong confidence in Solana’s potential and future rewards. This surge in optimism coincides with growing social media discussions surrounding Solana ETFs. Although only two ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">applications</a> have been submitted to the U.S. Securities and Exchange Commission, market experts remain hopeful.</p>
<h2 id="could-solana-follow-ethereum-s-path">Could Solana Follow Ethereum’s Path?</h2>
<p style="text-align: justify">Eric Balchunas, a senior ETF analyst, noted that the popularity of Ethereum ETFs could set a precedent for similar financial products, including Solana ETFs. The expectation is that after Ethereum ETFs gain traction, Solana ETFs may follow, leading to a ripple effect in the market. Currently, only VanEck and 21Shares have put forward applications for listing a Solana financial instrument, with research heads explaining the steps needed for approval.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Here are some actionable insights for investors:</p>
<ul>
 <li>Track the progress of Solana ETF applications for potential market impact.</li>
 <li>Consider the implications of increased staking by whales as a sign of long-term confidence.</li>
 <li>Monitor regulatory developments closely, as they could affect the approval process.</li>
 <li>Stay updated on social media trends and analyst opinions regarding Solana ETFs.</li>
</ul>
<p style="text-align: justify">The Chicago Board Options Exchange (CBOE) has also applied for Solana ETF funds through a 19b-4 form, which invites public comment—a crucial step in the SEC’s review process. However, despite the growing enthusiasm, potential regulatory challenges cannot be overlooked. The market debut of the Solana ETF remains uncertain, and any regulatory hurdles could influence its approval timeline.</p>
<p style="text-align: justify">Currently, the anticipation for the Solana ETF fund is lively, leading to a 10% price increase in the last week and a 1.2% rise since July 24. According to CoinGecko data, Solana has outperformed both Bitcoin and Ethereum, underlining the ongoing interest and speculative excitement surrounding this digital asset.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-boost-solana-interest-with-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Boost Solana Interest with ETFs</a></h5>

Whales Boost Solana Interest with ETFs

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Інші статті, опубліковані 24 лип. 2024 р.

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