Crypto ETF Race Heats Up, More Solana ETFs Planned as Snorter Bot Corners Market for Solana Memes
The post Crypto ETF Race Warms Up, More Solana ETFs Planned as Snorter Bot Corners Market for Solana Memes appeared on BitcoinEthereumNews.com. The SEC’s filing cabinet has to be quite complete nowadays, and their ‘documentation pending’ stack is getting perilously high. Invesco Ltd and Galaxy Digital LP combined forces to provide another Solana-based exchange-traded fund (ETF). They filed the proper documents with the SEC and signed up with at least 12 other possible spot and future ETFs on the SEC to rule on their status. The competition for the leading $SOL ETF takes place at the most noticeable end of the crypto community. Far lower down, there’s a different race on, with Snorter poised to corner the market in the fast-paced world of Solana meme coins on Telegram. It’s two ends of the very same spectrum and talks to the growing strength and flexibility of the Solana environment. Invesco Galaxy Solana ETF Ready to List Why the race for a Solana ETF? Partly due to the fact that of the incredible success of Bitcoin and Ethereum ETFs: $IBIT: iShares Bitcoin Trust, $70.6 B Properties Under Management (AUM) $FBTC: Fidelity Wise Origin Bitcoin Fund, $20.4 B AUM $GBTC: Grayscale Bitcoin Trust, $19.6 B AUM $ETHA: iShares Ethereum Trust, $3.9 B AUM $ETHE: Grayscale Ethereum Trust, $2.8 B AUM It’s not a surprise that more gamers are ready to get in the game, especially as the realms of standard financing (TradFi) and decentralized finance (DeFi) move ever-closer together. Just $BTC and $ETH currently have single-asset crypto ETFs, but the stack of pending filings consists of whatever from $XRP to $SOL to the first-ever NFT ETF, with Pudgy Penguins ($PENGU). And with single-asset crypto ETFs rolling along, organizations aren’t lingering for the SEC. They have actually currently started to move towards multi-asset ETFs. Transforming Existing Funds to Multi-Asset ETFs Among the holdups up until now has been that the SEC does not have a clear set of guidelines around crypto ETFs, even after the $BTC and $ETH approvals went ahead. The issue …
Invesco Galaxy Solana ETF Ready to List Why the race for a Solana ETF? Just $BTC and $ETH currently have single-asset crypto ETFs, but the stack of pending filings includes everything from $XRP to $SOL to the first-ever NFT ETF, with Pudgy Penguins ($ PENGU). Solana ETFs Mark the Next Phase of Crypto Adoption As plans continue, even the rate of ETF filings indicates just how fast crypto adoption is moving.
Invesco Galaxy Solana ETF Ready to List Why the race for a Solana ETF? Only $BTC and $ETH presently have single-asset crypto ETFs, however the stack of pending filings includes whatever from $XRP to $SOL to the first-ever NFT ETF, with Pudgy Penguins ($ PENGU). Transforming Existing Funds to Multi-Asset ETFs One of the holdups so far has been that the SEC does not have a clear set of guidelines around crypto ETFs, even after the $BTC and $ETH approvals went ahead. Investment managers from Bitwise to Hasdex have plans to convert other funds to multi-asset ETFs that include cryptos. Solana ETFs Mark the Next Phase of Crypto Adoption As plans continue, even the rate of ETF filings suggests simply how fast crypto adoption is moving.
