• 21Shares filed for a Solana (SOL) ETF, however the firm's Core Solana ETF submitting got here someday after VanEck's Solana Belief.
• SOL costs surged after VanEck's submitting on Thursday, hovering round $142 following the information.

Solana (SOL) ETF mania is gaining momentum as one more issuer has filed for a spot Solana ETF.

The day after VanEck filed for the same exchange-traded fund with the U.S. Securities and Trade Fee, 21Shares filed its personal software.

21Solana ETF File

The 21Shares Core Solana ETF will commerce on the Cboe BZX change and “observe the efficiency of SOL, the native digital asset on the Solana blockchain,” in response to the submitting.

“21Shares is happy about the potential for an exchange-traded product (ETP) offering entry to the Solana ecosystem in the US. We consider it is a mandatory step for the crypto trade and stays true to our mission of bringing simply accessible monetary merchandise round crypto belongings to the market,” the corporate wrote to X.

VanEck recordsdata for first US SOL ETF

VanEck and 21Shares turn into the primary two asset managers to file for SOL spot ETFs within the U.S., and because the trade gears up for a spot Ethereum ETF, consideration shall be targeted on who will apply subsequent. The SEC authorized an Ethereum ETF in Could, and consultants say closing approval earlier than the product will be listed on exchanges may come as early as subsequent week.

Concerning Solana, Eric Balchunas, senior ETF analyst at Bloomberg, mentioned it could be too early to pinpoint a probable date for approval, but when Trump wins the election this yr, “the probabilities of a Solana ETF being authorized” throughout the subsequent 12 months may enhance considerably.

SOL Worth in ETF Information

Solana's value soared on Thursday because the market reacted to VanEck's submitting.

On Friday, the cryptocurrency gave up most of its positive aspects as the whole crypto ecosystem got here beneath continued downward strain.

Nonetheless, with Bitcoin struggling under $61,000 and Ether struggling round $3,400, Solana was attempting to bounce again above $142. Not like BTC and ETH, that are down 4.5% and three%, respectively, over the previous week, Solana’s value has risen 8%.