The US Securities and Exchange Commission (SEC) took a step forward for Grayscale’s Solana ETF. This is a shift in policy just weeks after former SEC Chair Gary Gensler had reportedly rejected the same applications. Also, find out what’s the best crypto to buy now!
This ETF approval is very bullish for Solana, and likely to supercharge
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The ETF will increase institutional interest and bring easier access for investors to invest in Solana.
UPDATE: SEC just acknowledged the @Grayscale Solana 19b-4. This is actually newsworthy because the SEC had refused to do this in recent filing attempts for SOL pic.twitter.com/m2D88GKG5i
— James Seyffart (@JSeyff) February 6, 2025
Solana ETF Acknowledged By SEC – What It Means For Solana? Find the Best Crypto To Buy!
The acknowledgment of Grayscale’s Solana ETF filing by the SEC could attract more institutional investors to Solana, boosting its liquidity and price. The move is a green light for Solana’s mass adoption. Given the approval of
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and
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ETFs and Solana’s strong performance, the SEC is likely to approve a Solana ETF as well.
SOL is up significantly since the beginning of 2024, with a market cap surpassing $112 billion, it pumped from under $20 in the bear to $250 at its peak this cycle.
As of now, SOL is trading around $190, following a 4% spike from its $185 bottom after Grayscale’s Solana ETF filing news. Subsequently, trading volume has seen a 20% increase after the Solana ETF news. If SOL could break its resistance levels at $160 and $200, it could eye a retest of its all-time high in the $250-$265 range.
(SOLUSD)
The collapse of FTX in late 2022 initially hurt SOL prices due to the exposure of FTX’s Alameda Research to Solana. Even so, SOL has since recovered, showing strength and attracting crypto degens with its low fee.
Solana has been focusing on building its ecosystem post-FTX. Its team foundation has been increasing its total value locked (TVL) by 1,800% in the past year, mainly driven by its utility in DeFi and NFT spaces.
Under Gary Gensler’s leadership, the SEC was notably cautious with crypto ETFs, including reportedly rejecting initial Solana ETF applications. With Gensler no longer at the helm, the SEC is now in a more favorable environment for crypto. The new SEC administration under Paul Atkins, could expedite the approval process for Solana ETF, as seen with the recent acknowledgment of Grayscale’s filing.
The shift in SEC leadership has led to a reevaluation of crypto ETFs, with this acknowledgment of SOL ETF filings. These ETFs on Bitcoin, Ethereum, and Solana could probably be the start of the bull run this cycle.
Is SOLX the Solana Layer-2 to Battles SOL Outages?
Despite its impressive performance, Solana faces several significant challenges. One of the primary cons is its network outages. Solana has experienced multiple high-profile network downtimes, which led to concerns about its stability and reliability.
The Solana network’s capability to handle large-scale operations without interruption is being questioned.
Solana layer-2 is probably the solution. Solaxy is designed to be a groundbreaking solution for Solana scalability. With Solana and its problem, they need a layer-2 solution. Solaxy’s SOLX could be the best crypto to buy right now.
Ethereum layer-2, like Arbitrum, attracts so many users because it scales what ETH can’t. Arbitrum offers cheaper fees and faster transaction speeds, what Solaxy is aiming for on the Solana network.
Solaxy is the first Layer-2 on Solana. It has achieved a remarkable milestone by raising $18.5 million on presale, a groundbreaking first mover on Solana. SOLX tokens are currently offered at $0.001628 each, with an APY of 219%. Just sitting in their bags for a year guarantees users a 2.2X return in tokens.
Influential figures in the crypto space, including YouTuber ClayBro, who has nearly 20,000 followers on social media platforms, have endorsed the SOLAXY.
Invest in SOLAXY today while it’s still in presale. Enjoy the perks of being an early buyer right before it goes public. Those who buy during the presale usually get the tokens at the cheapest rates. SOLX could probably be the best crypto to buy right now before Solana ETF.
For the latest updates on the project, connect with the SOLX community on X and Telegram
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