Several fund managers have heeded the request from United States Securities and Exchange Commission (SEC) to file amended form S-1 for their respective spot Solana (SOL) ETFs. On Friday, all fund managers seeking to offer spot Solana ETFs filed amended Form S-1.
On the top list of fund managers seeking to offer spot Solana ETFs in the United States include Franklin Templeton, Fidelity, VanEck, Bitwise, and Grayscale Investments. As Coinpedia reported earlier this week, the U.S. SEC is likely to respond to the form S-1 in the next 30 days, thus triggering a potential altcoin ETF summer in the subsequent months.
Furthermore, Polymarket users predict that there is a 91 percent chance that the U.S. SEC will approve Solana ETFs by the end of 2025.
The Solana network has recorded significant growth in the past year to scale its throughput and facilitate mainstream adoption of web3. The imminent approval of spot Solana ETFs in the United States will present a major competition to the Ethereum (ETH) dominance in the crypto market.
Furthermore, the Solana network has already attracted several companies that have adopted SOL as a treasury management tool. For instance, SOL Strategies Inc. (CSE: HODL) holds more than 420k Solana coins for its treasury management.
The ultimate impact of the rising adoption of Solana by institutional investors is a major bull rally by the end of this year. According to Matt Hougan, CIO at Bitwise, the wider cryptocurrency market is currently in a summer of accumulation ahead of an epic rally by EOY.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The cryptocurrency market suffered a massive wipeout, erasing nearly $800 billion in value within 24…
The Ethereum price suffered a steep decline as panic gripped global markets, pulling ETH/USD from…
The crypto market is currently in a robust recovery period as investors are shifting towards…
The SOL price experienced a steep decline on October 11, falling from $221.95 to $184.15…
Ripple’s XRP is back in the spotlight after a sharp rebound from recent lows near…
Volatility stayed high, but so did innovation. Amid new policies, global headlines, and market pressure,…
