Third Solana ETF application filed with SEC
Solana price rises amid SEC filing for ETF launch
Crypto asset management firm Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Solana exchange-traded fund (ETF). This marks the third Solana ETF application, following those filed by VanEck and 21Shares.
The corresponding document is available on the official SEC website.
The new spot ETF aims to track the price of SOL through the Chicago Mercantile Exchange index. The proposed Solana ETF would enable investors to access the Solana market through a traditional brokerage account, without potential entry barriers or risks associated with directly holding SOL.
So far, two other investment companies, VanEck and 21Shares, have applied to launch spot Solana ETFs.
Market Cap and Price Growth of Solana
Recently, Solana (SOL) has shown steady growth. After dropping below $140 a few weeks ago, the price of SOL has recovered, rising to $175.
Solana’s market capitalization has also increased and is currently at $82 billion, close to its all-time high of $86 billion reached in March 2024.
Some analysts suggest that if Solana maintains this momentum, the asset may surpass the $200 mark in the future.
Over the past 30 days, Solana's price has risen by 14%. However, several indicators suggest careful monitoring for any potential changes in the altcoin’s bullish momentum.
