Solana Price Eyes $160 As Invesco Galaxy Submits ETF With SEC
Secret Insights: A major ETF filing has renewed focus on Solana. With trading levels around $145.10, Solana price may be poised for increased momentum. If the digital asset can rally to $160 as institutional interest grows, investors are closely watching. Investment firms like Invesco Galaxy are seeking approval for a Solana-focused ETF.
Key Insights: Invesco Galaxy filed for a Solana area ETF (QSOL) to track Solana price via the Lukka Prime benchmark. Bloomberg estimates a 95% possibility of SEC approval for a Solana ETF by the end of 2025. Over 8.9 M SOL worth $1.29 B crossed wallets amidst increasing ETF speculation and cost stability.
Invesco Galaxy and Galaxy Digital have filed an S-1 form with the U.S. SEC to launch the Invesco Galaxy Solana ETF. The proposed ETF will trade under the ticker QSOL on the Cboe BZX Exchange. It aims to track Solana’s spot rate using the Lukka Prime Solana Reference Rate.
Whale Activity and ETF Bets Fuel Accumulation Narrative: Large Solana wallet movements have been recorded ahead of the ETF news, drawing attention from traders and investors.
Solana Price Reveals Early Bullish Signs, But Key Levels Remain: According to TradingView, Solana price was trading at around $145.10, showing early signs of a positive uptrend.
Disclaimer: This article is for informative purposes only and provides no financial, investment, or other recommendations. The author and individuals mentioned are not responsible for any financial loss that may occur from buying or trading. Please do your research before making any financial decisions.
Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets.
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