- CoinShares submits application for a spot Solana ETF to the SEC, becoming the eighth filer.
- CoinShares aims for direct SOL exposure and revenue from staking.
- Institutional interest in Solana intensifies with potential market shifts.
CoinShares has filed a Form S-1 with the SEC to launch a spot Solana ETF, becoming the eighth applicant. Bloomberg’s ETF analyst Eric Balchunas announced this news on X.
The application signals a potential increase in institutional involvement in Solana, similar to effects seen in Bitcoin and Ethereum ETF approvals, which led to increased market activity.
CoinShares’ Strategic Move for Solana Exposure
CoinShares, a major European digital asset firm, has applied to the U.S. SEC to list a spot Solana ETF. Eric Balchunas highlighted CoinShares as the eighth firm entering the race.
According to Balchunas, this development underscores strong institutional interest in Solana, potentially affecting related crypto markets. The SEC’s response to this and similar applications will be pivotal.
“CoinShares has become the eighth spot Solana ETF applicant, further intensifying the race and showcasing institutional interest in Solana.” — Eric Balchunas, Senior ETF Analyst, Bloomberg
Historical Context and Solana Market Dynamics
Did you know? During the emergence of Bitcoin and Ethereum spot ETFs, institutional inflows increased significantly, enhancing market credibility and investor interest.
As of the most recent data, Solana’s price stands at $157.18, with a market cap of $82.95 billion, composing 2.45% of the market. Daily trading volume reached $4.30 billion, experiencing a 26.49% rise. Over the past 90 days, Solana’s value increased by 26.15%, as reported by CoinMarketCap.
Research by Coincu indicates the potential approval of a Solana ETF may lead to increased institutional capital, more extensive regulatory considerations, and technological innovation in blockchain processes related to staking and ETF management.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/343656-coinshares-files-solana-etf-sec/