Solana
How likely are we to see a Solana ETF? New Filings Suggest Increased Demands — TradingView News
ZyCrypto
After notable resistance in previous years, the new year brought Spot-based Bitcoin ETFs to the US market. As a result, a handful of ETFs have been filed, approved, and made live. While most ETFs are tied to major cryptocurrencies, alternative tokens appear to be gaining traction as investor demand continues to soar.
More recently, Solana has become a topic of conversation among major players. Suggestions that a potential Solana Spot-based ETF could enter the market have become increasingly popular in the altcoin ecosystem.
Notably, new developments are bolstering positive sentiments, with a most recent one making the rounds among Solana investors. Notably, digital asset manager 3iQ has filed for an exchange-traded product (ETP) Solana (SOL). The application, if approved, could launch a Solana-based ETP, which will go live on the Toronto Stock Exchange (TSE) in Canada.
“3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for the Solana Fund (QSOL) in Canada in connection with an initial public offering.” The official announcement was shared on Twitter, formerly X read.
The future is bright for Solana (SOL)
The move highlights the company’s continued commitment to innovation. If the application is approved by regulators, the announcement states that the Fund will become the “first Solana exchange-traded product to be listed in North America.”
Additionally, the approval will launch Solana into a broader market, as exposure to SOL is poised to increase in the long term.
This year, the ETF market has approved several ETFs based on Bitcoin Spot in the US market. In the coming months, the SEC also approved an Ethereum ETF. The market saw a notable increase in the price value of Bitcoin and ETH following the approvals, as demand for both assets skyrocketed domestically and globally.
On the one hand, Bitcoin reached a new all-time high, surpassing $73,000, before experiencing a downturn. Selling pressure also reduced significantly as whales continued to add to their holdings. Expectations for Ethereum are equally high as major players anticipate a long-term rise in price performance.
The outlook for Solana is similar among community members. ETFs can increase an asset’s interest rates, and Solana is no exception. At the time of reporting, the SOL asset is trading at $137.