It’s about what assets all eyes can work together since both Bitcoin and Ethereum ETFs were approved in 2024. Solana then emerged as a favorite, and cryptocurrency gained a great momentum in the impending investment vehicle.
Currently, Bloomberg analysts are forecasting approval odds of over 75% for various Altcoin ETFs, including Solana. Analysts will project SOL and other crypto ETFs to be approved by the end of the year, and forecast as targets this fall. Solana could become the third crypto-based ETF to obtain approval from the US Securities and Exchange Commission (SEC).
Currently, there are eight separate spot fund proposals ahead of the SEC, including ETFs linked to Solana (SOL), Litecoin (LTC), Dogecoin (Doge), XRP, Cardano (ADA), Avalanche (Avaxe), Polkadot (DOT) and Hedera (Hbar). However, Sol is widely preferred as the biggest option for next obtaining ETFs.
As the odds of Sol ETF rise, Solana climbs
Solana is currently riding a wave of bullish momentum across its ecosystem. Stablecoin’s market capitalization has been rising sharply since February, with its recent rise to over $13.07 billion. This indicates the increased trust and liquidity flowing through the network. Sol’s Rally will also come among Paul Atkins, the new Pro Bitcoin head appointed to the SEC. Many expect Atkins to take a more relaxed approach to the crypto sector. The newly improved SEC can also determine the Solanasol ETF in the coming months. This will accelerate the Solana surge to more than $185.
The SEC must respond to SOL ETF proposals submitted by companies including Bus Scale, Bitwise, Franklin Templeton and Hashdex. The decision for single asset ETFs such as SOL, DOGE, XRP and ADA is expected in October, with others continuing in November and December. These are final deadlines, meaning that the SEC, which previously delayed the decision, must issue a final judgment. The SEC is much more crypto-friendly in 2025, so it’s extremely recurry, according to experts that ETFs will ultimately be approved.
