Cboe BZX Exchange Files For Spot Solana ETFs As SOL Dips; How Will the Price React? 

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Cboe BZX Exchange Files For Spot Solana ETFs As SOL Dips; How Will the Price React?

Major US stock exchange operator Cboe BZX submitted new spot Solana exchange-traded funds (ETFs) filings. As shared by crypto analyst MartyParty earlier on Jan. 29, 2025, Cboe’s SOL ETF filings included 4 19b-4 applications. These included the VanEck Solana Trust, Canary Solana Trust, Bitwise Solana ETF and 21Shares Core Solana ETF. 

Following the filing the US Securities and Exchange Commission (SEC) will analyze whether the filing meets criteria to move forward. The commission will then publish it on the Federal Register after which it will set a timeframe for the decision making process. 

Odds For SOL ETF Approval in 2025 Rise to 86%

Prior to the new filing by Cboe, the SEC under Gary Gensler rejected spot Solana ETFs. However, under the new leadership of Acting SEC chair Mark Uyeda, there is increased optimism for a Solana ETF approval in 2025. 

The increasing optimism stems from indications that crypto-friendly reforms could now be feasible. In fact, the new SEC leadership is set to reshape upcoming decisions regarding digital assets. Data on polymarket shows that there is a 86% chance of getting a SOL ETF in 2025. 

Besides the Cboe BZX recent Solana ETF filing, Tuttle Capital recently filed for exchange traded funds. The firm’s recent ETF applications featured altcoins and meme coins. Tuttle Capital’s proposed ETFs encompass LTC, XRP, TRUMP, BONK, hence expanding beyond Solana. 

Polymarket data shows that there is a 86% chance of getting a SOL ETF in 2025. If approved, the proposed Solana ETFs will provide fresh opportunities for investors to access specific financial markets.

Solana Continues To Struggle With Over 10% Weekly Dip

The fifth largest crypto by market cap has been struggling lately. According to the 7 day chart on Coinmarketcap, SOL has dipped by 10.61%. The coin was trading at $231.38 as of the time of writing. 

Apart from the price of $SOL, the market cap and trading volume have also dropped. Current market cap stands at $112.62 billion marking a 2.91% decline. On the other hand, the trading volume over the last 24 hours is down to $4.39 billion, depicting slowing trading activities. 

Solana’s key resistance levels stand between the $250 and $260 mark. However, the coin reached a new all-time high of $294.33. The coin could surge beyond the recent ATH to $330 or $400 in 2025 as recently predicted in an another post on Blockchain News. 

Approval of a Solana ETF by the SEC could push SOL’s prices to this level by the end of 2025 as the ecosystem would see more inflows. Traders must thus track the development of the filed SOL ETFs as well as the coin’s price action. 

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