VanEck Files for Spot Solana ET

[Bitwave01]

VanEck Files for Spot Solana ETF
https://www.mitrade.com/insights/news/live-news/article-3-231859-20240627

What did you think about this Solana ETF and what do we expect if it is successful

[pawanjain]

Yeah, I just heard about the news too and I was in despair because I had just shorted SOL but then it took a reversal after this news and shot up like anything.
I was in major losses and so I decided to cut my losses but anyway I guess the ETF will be approved because BTC ETF has been approved too.
Good time for SOL holders 

[mk4]

2 words: too soon.

Look, I like Solana, but the reason why the Ethereum spot ETF got approved is that while Ethereum didn't have a fair lunch as Bitcoin had, Ethereum has been live for so long already that the ETH supply has already been spread out throughout the markets. As for SOL, a huge percentage of the supply is still with VCs.

While I'd definitely want this to be approved, I'd say another 2-3 years til a spot Solana ETF.

[terrific]

Now, this is going to be the major trend for most of the top altcoins. This has been set that we've seen the first approved crypto spot etfs.
And the next ones will be likely to get approved by the SEC with how the first ones have been approved as well.
Well, congratulations to the diamond hands of the Sol holders.

[avikz]

VanEck Files for Spot Solana ETF
https://www.mitrade.com/insights/news/live-news/article-3-231859-20240627

What did you think about this Solana ETF and what do we expect if it is successful

So the corporates are slowly taking over cryptocurrency! The trend started with Bitcoin, then ETH and now Solana. Very sad to see that crypto market is slowly becoming crowded by the corporates who are pulling in billions of dollars in the name of an asset which are easily available in an open market.

I was never a supporter of ETF and corporate encroachment in the crypto market. But sadly, this is becoming the reality! Don't cry when these corporates will start manipulating this free market at their own will.

[bittraffic]

Would it be approved without Blackrock to initiate the first?
Blackrock has to make it official if not then VanEck is just too early for this ETF. But I see 3iQ in Canada also files for Solana ETP so VanEck is not the only one interested in it. Make sense to see only the top altcoins that will make the institutions try investing in.

[TastyChillySauce00]

VanEck Files for Spot Solana ETF
https://www.mitrade.com/insights/news/live-news/article-3-231859-20240627

What did you think about this Solana ETF and what do we expect if it is successful

It will be similar to the ethereum and bitcoin narratives: certain companies submit solana ETF applications to the SEC; the SEC approves the Solana ETF; and a pump occurs in solana. 

That is not new in the cryptocurrent, but I still doubt Solana's chances of being accepted by the SEC. You know how many scam tokens were available on the Solana blockchains. 

Though the chances of approval are high, I believe it will take longer for the SEC to analyze this application due to the numerous problems that have previously occurred in Solana. 

I only expect an initial pump with solana, but it won't be as huge as bitcoin or ether. 

[X-ray]

as expected if one altcoin is approved of ETF other will also follow,

the ETF for solana I think is still unnecessary, not even ethereum ETF goes into trade and other altcoin is already ready for filing the ETF its actually kinda feels like these companies trying too hard with these altcoins ETF.
the thing is if trend like this keeping up, people will consider ETF as just another "exchange listing", it will take away the enthusiasm.

I really think these companies and corporations need to wait a little bit before filing for another ETF, let us see how the ethereum ETF plays out first, but thats just my irrelevant opinion.

[mich]

Well 21sharse also did file to launch a Solana etf. The etf will utilize Coinbase Custody Trust Company and it will trade on the Cboe BZX Exchange. 

https://news.bitcoin.com/21shares-files-to-launch-solana-etf-with-sec/

[dansus021]

Vaneck really gonna hit the traditional market after btc and eth and now is solana?
First of all that's crazy frennn haha but i dont think the sec gonna approve this one.

Bitcoin is the foundation and Ethereum already paved the way and unlock new possibility in the crypto space. Solana just make it more perfect but i dont think sec gonna approve this one very soon

[nelson4lov]

Previously, I was of the opinion that Solana won't be getting an ETF but currently my stance on that has changed. Why?

Solana has grown over the years and why I haven't liked Solana from the onset because I'm an Ethereum / EVM fan boy, I can deny the fact that solana is pushing the limits of blockchain and crypto. Currently, Solana has the most daily, weekly and monthly transactions of all chains and most volume is there due to the fact that it is very easy and seamless to transact.

Now that a Solana ETF might be on the way, I have taken the opportunity to collect a small sol position and will hold it and add on every dip up until the ETF looks to be priced in before I would consider selling. I don't have to be right about Ethereum >>> Solana in order to make money.

[Abiky]

VanEck Files for Spot Solana ETF
https://www.mitrade.com/insights/news/live-news/article-3-231859-20240627

What did you think about this Solana ETF and what do we expect if it is successful

I'm not surprised. Especially when ETH will get its own spot ETFs. If all goes well for ETH, then a Solana ETF should be a no-brainer. Exciting times ahead for crypto holders. Would such a move be enough to propel SOL beyond its last recorded ATH? Only time will tell.

For a coin that was previouly linked to FTX, I'd say it has done remarkably. At least, in market price. Technically speaking, the network still has its own set of issues. Outages are one of the most concerning ones. Institutional investors can't afford a network outage that will halt trading activity for a while. Hopefully, Solana remains stable enough to withstand heavy usage with the rollout of the new "Firedancer" third-party node software. Who knows what will happen in the future?