A Solana ETF is closer to reality, with Bloomberg analysts giving them a 70% shot at SEC approval. But the real shocker today is how we did not realize $TRUMP was the top signal for Solana ($SOL).
Following Bitcoin and Ethereum’s ETF success, Solana could mark the next evolution in merging blockchain with conventional finance, promising broader adoption and a revamped image.
Is SOL A Security, and Is The Solana ETF Screwed?
Solana is at a regulatory crossroads. Unlike Bitcoin and Ethereum, which the SEC treats as commodities, Solana faces the risk of being labeled a security – a move that could derail ETF approvals.
Bloomberg’s Eric Balchunas pegs the chances of approval at 70%, but a classification shift could slam the brakes on progress. With the SEC’s new pro-crypto leadership drawing public input on Solana ETF filings, the outcome may set a precedent for future blockchain assets.
🚨 BREAKING 🚨
BINANCE IS SELLING ALL THEIR SOLANA HOLDINGS pic.twitter.com/jGJY5mRixN
— Crypto Beast (@cryptobeastreal) February 25, 2025
The Solana ETF race is on, and Franklin Templeton is leading the way with a proposal featuring a rare twist—staking rewards. With $1 trillion in assets and Coinbase Custody providing security, the fund would directly connect investors to Solana’s price while generating token-based income.
Meanwhile, Grayscale, VanEck, Bitwise, and others reflect a growing appetite for SOL-based products.
Noticeably sidelined is BlackRock, the undisputed giant in crypto ETFs. With $11.6 trillion under management and dominance in Bitcoin and Ethereum ETFs, the firm’s silence on $SOL has raised eyebrows. Citing client priorities and liquidity concerns, BlackRock’s next move is anyone’s guess.
Have Meme Coins Ruined Solana?
An argument is growing online that Solana ruined crypto. It gave billions to Jeets (Just Exit Early Traders), and normies were scammed.
Solana has been pigeonholed in recent years as a “meme chain.” However, an ETF could legitimize its broader capabilities as a high-performance blockchain for finance and commerce. Conversely, it could be too late for SOL.
Solana meme coins and Tether are just a digital version of BCCI, honestly. Some day this will be common knowledge.
— Whitney Webb (@_whitneywebb) January 19, 2025
Solana’s dream of becoming the “Nasdaq of blockchain” has been clouded by its attachment to volatile projects. Institutional-grade ETFs, however, could rewrite that narrative, pushing Solana toward mainstream financial acceptance. Bitcoin ETFs have already raked in $40 billion, and Ethereum isn’t far behind.
ETF approval could further open Solana’s doors to traditional finance, boosting the adoption of tools like Solana Pay, its QR-code-based crypto payment system.
Where Will The SOL Price Head Next?
Just as Ethereum’s L1 hegemony was threatened by Solana years ago, $SOL is now on its back foot until an ETF is approved. Chains like SUI, BNB, and XRP are not going anywhere.
Solana is still the giant when it comes to L1 dominance. Yet whether this new chapter will fulfill Solana’s Nasdaq-like vision remains to be seen.
EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress
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Key Takeaways
- A Solana ETF is closer to reality, with Bloomberg analysts giving them a 70% shot at SEC approval.
- Just as Ethereum’s L1 hegemony was threatened by Solana years ago, $SOL is now on its back foot.
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