Solana (SOL) has seen a significant rise in price, gaining over 16% in the past week. This surge is attributed to the recent applications for spot ETFs tracking Solana's price in the US. VanEck and 21Shares have filed applications with the SEC, following the success of Bitcoin (BTC) and Ethereum (ETH) spot ETFs. Solana's trading volume has also jumped 50%, making it the third most traded cryptocurrency, excluding stablecoins. The potential for Solana spot ETFs in the US market is driving this bullish momentum.
Benzinga•1 year ago•
930
Solana Surges 16% on ETF Application Momentum
Solana
Crypto
ETF
Bitcoin
Ethereum
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Summary:
Solana (SOL) has risen over 16% in the past week.
The surge is driven by applications for Solana spot ETFs in the US.
VanEck and 21Shares have filed applications with the SEC.
Solana's trading volume has increased by 50%, making it the third most traded cryptocurrency, excluding stablecoins.
The potential for Solana spot ETFs is fueling this bullish trend.
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