Galaxy’s $55M Solana Splash Fuels ETF Frenzy

As Solana breaks resistance after resistance and institutions pile in, presales like Snorter Token could be next to benefit in the next rally.

Galaxy Digital has made a major on-chain move, acquiring roughly $55M in $SOL and transferring it to its Fireblocks custody wallet. This comes just as ProShares rolled out its new leveraged crypto ETFs offering 2x exposure to $SOL and $XRP.

As institutional capital starts to eye Solana more seriously, it’s not just $SOL that’s getting attention. New projects, such as Snorter Token ($SNORT), are also beginning to attract serious interest, having raised $2M during presale. The project introduces a Telegram-based trading suite meant to give you an edge in trading crypto.

Institutional Confidence in $SOL is Growing

Galaxy Digital’s recent $55M Solana acquisition isn’t an isolated move.

It’s part of a broader shift that might see Solana develop its ecosystem further by injecting institutional capital. With ETFs, staking platforms, and pro-crypto regulations coming together, Solana demands to be taken more seriously.

For example, ProShares announced the launch of two leveraged ETFs this week: ProShares Ultra Solana ETF (SLON) and the ProShares Ultra XRP ETF (UXRP).

The new ETFs aim to deliver 2x daily exposure to $SOL and $XRP through regulated futures contracts, without holding the actual coins. ProShares is a leader in leveraged and inverse funds, as well as a pioneer of crypto-linked ETFs.

Meanwhile Coinbase, Kraken, Anchorage Digital, and Galaxy are backing a new liquid staking token for Solana called LsSOL through the Liquid Collective, in response to the rising institutional interest in the Solana network.

Tapping into these new developments, $SOL is currently hovering near $177, with its market cap touching $95B.

source: TradingView

If buying interest continues to build, especially with broader market support, the next key level to watch for $SOL is $185. A clean break above that could open the door to $210 in the short term.

This combination of technical strength and institutional infrastructure is creating a ripple effect, where investors aren’t just buying $SOL, but also projects running on the network. BONK’s recent surge is a striking example of the trend.

source: CoinMarketCap

Tools like Snorter Bot, which take full advantage of Solana’s speed and low fees, are also starting to attract attention.

Snorter Token & Snorter Bot: Faster Trades, Straight from Telegram

Snorter Bot is a Telegram-native trading bot powered by the $SNORT token. The whole stack lives inside Telegram. There is no browser or clunky UI.

At its core, Snorter Bot aims to offer sub-second swap execution on Solana, thanks to its custom RPC infrastructure. That gives it an edge during meme coin launches and volatile price swings.

Here, users can instantly snipe new token listings, mirror top wallets with real-time copy-trading, and check their portfolio directly in Telegram using a simple command.

$SNORT holders enjoy reduced trading fees, with execution costs dropping from 1.5% to 0.85%. Security is also a priority for Snorter Bot. The platform scans for rug pulls, honeypots, and mint traps, alerting users before a trade goes south.

And with cross-chain support planned beyond Solana and Ethereum to BNB, Polygon, and Base, the project is designed to grow with the market.

$SNORT Supply, Rewards, and What It Signals

Right now, early presale participants can earn around 190% APY as passive income by staking $SNORT. However, the rates change depending on the number of participants in the pool, and the earlier you are, the higher the rate.

The token has a fixed supply of 500M, with 25% allocated to product development. The large allocation reflects the team’s commitment to building long-term tools rather than chasing short-term hype.

The roadmap also mentions an EVM-compatible bot, deeper Telegram features, trading dashboards, DeFi integrations, and API access for advanced users.

Galaxy’s $55M Bet Might Just Be the Beginning

Galaxy’s move and the launch of Solana ETFs signal a larger shift. If $SOL keeps climbing, projects building real tools on the network could be next in line to benefit.

For those looking to tap into Solana’s next bull run, $SNORT is a top altcoin to watch now. $SNORT presale has already raised close to $2M, with buyers rushing to stock up on the token at lower prices before it hits exchanges.

The presale price increases with each new stage (now selling for $0.0985), and the staking reward rates drop with new participants joining in, favoring early investors.

But as always, take the time to research the project before making any investment decisions.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.