On June 28th, the ETF Issuer 21Shares filed the S-1 form with the U.S. SEC for the 21Shares Core Solana ETF. This move marks a significant step towards making Solana-based exchange-traded funds (ETFs) available to public investors.
21shares becomes the second firm to launch Solana ETF after VanEck’s significant step in expanding its suite of crypto-related products by filing for the first U.S. exchange-traded fund (ETF) focused on Solana. These filings highlight an expansion of investment opportunities within the cryptocurrency market.
Bloomberg analyst Eric Balchunas stated that The SEC’s approval of the Solana ETF over the next 12 months is intimately related to the country’s new president.
SOL Price Analysis
This news comes as the cryptocurrency market experiences significant volatility. It can initiate a fresh Solana Price rally, fueling Solana-based meme coins. Solana’s price has risen by 1.20% over the previous 24 hours. At the time of writing, the token was trading for $145.01.
Crypto market analysts forecast that SOL’s price will reach $1,320, with GSR Markets naming Solana as one of “crypto’s big three.” They predict SOL could attract 14% of Bitcoin ETF flows.A GSR Markets report projects an 8.9x increase in Solana’s price. In an optimistic scenario, Solana’s current price of $149 could surge to over $1,320, resulting in a market valuation of $614 billion.
In the “bear” and “baseline” scenarios, spot Solana ETFs are expected to capture 2% and 5% of Bitcoin flows, respectively, boosting Solana’s price by 1.4x and 3.4x.
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