Solana ETF Approvals Could Arrive by Mid-October, Says Analyst
According to ETF analyst Nate Geraci, several suggestions for funds (ETF) traded from Solana Exchange, some including the stake, could receive the approval of US supervisory authorities by mid-October. This development is seen as a significant step forward for the cryptocurrency market, particularly for Solana, which has been gaining traction among institutional investors.
The submissions include the discontinuation of characteristics, the signaled rising institutional demand and possible dynamics for ETF permits. Analysts say that Solana is the next old coin for institutional introduction with strong tributaries and growing ETF interest. The comment follows a wave of changed S-1, which were presented on Friday of the Securities and Exchange Commission (SEC).
Top Asset Managers File Updated Applications for Spot Solana ETFs
In a post on X, Geraci found that Franklin Templeton, Fidelity, Coinshares, Bitwise, Grayscale, Vaneck and Canary Capital submitted all updated documents for their proposed Spot Solana ETFs. The S-1 form contains detailed information on the fund structure, risk and operations. Geraci speculated that the permits could land within the next two weeks and described October an “significant month” for digital wealth products.
His remarks come shortly after the start of the Rex fospray Solana ETF launched in the USA and made their debut at CBOE BZX Exchange with $ 33 million in trading volume and $ 12 million on the first day. The ETF dynamics about Solana is aimed at the latest market commentary positioning Sol as the next crypto assets that were presented for institutional adoption.
Pantera Capital described Solana compared to Bitcoin and Ether as the “Next in the line” after a subdentation. Bitwise Cio Hunter Horsley added that the company’s Solana ETP listed in Europeans on five trading days $ 60 million in rivers “Solana is in the minds of people”. Geraci also found that the inclusion of the intention of the language in US applications could be a positive signal for the long-thin approval of spot ethereum ETFs with storage features.
Bitcoin ETFs Hold Over 1.47m BTC
Bitcoin Exchange-traded products now hold over 1.47 million BTC, which corresponds to about 7% of the total offer, whereby the US ETFs dominate the landscape. Blackrock’s IBIT leads with 746,810 BTC, followed by Fidelity’s FBTC at almost 199,500 BTC. However, the momentum seems to cool down. In August, Bitcoin ETPs recorded $ 301 million in drains, while Ethereum found 3.95 billion US dollars.
Whale activity reflects this shift, with several large owners transforming hundreds of millions of BTC in ETH before the most important ETF developments and the historically weak September trade month. As reported, the US Securities and Exchange Commission (SEC) checks according to James Seyffart James Seyffart, analysts of Bloomberg Intelligence, currently 92 Krypto -Effen.
A detailed table published on August 28 shows that most of these submissions, especially those associated with Solana, XRP and Litecoin, are facing final decisions by October. The wave of new applications reflects the growing interest in altcoin-focused ETFs and could trigger new capital inflows to the crypto market. For more information, visit https://cryptonews.com/news/solana-etf-approvals-could-arrive-by-mid-october-says-analyst/
