The momentum for crypto-focused exchange-traded funds (ETFs) in the U.S. is rapidly increasing. Nate Geraci, holding the position of President at NovaDius Wealth Management, indicates that Solana-based ETF applications emphasizing staking could gain approval by mid-October. Sharing his insights on platform X, Geraci foresees these approvals occurring within the upcoming fortnight. Notably, the latest applications directed to the U.S. Securities and Exchange Commission (SEC) involve major investment entities, such as Franklin Templeton, Fidelity Investments, CoinShares, Bitwise, Grayscale, VanEck, and Canary Capital.
What Sparks Interest in Solana Staking ETFs?
Following the debut of the first Solana staking-oriented ETF in the U.S. by REX-Osprey, interest in Solana surged. This ETF recorded an impressive trading volume of $33 million along with a $12 million inflow on its debut. Highlighting its significance, Pantera Capital representatives regard Solana as a promising opportunity for institutional investors, with its relatively smaller market share in comparison to giants like Bitcoin and Ethereum.
Why Do Stakeholders Eye Ethereum Staking?
In the European market, Bitwise’s Solana staking product amassed $60 million in inflows within the last five trading days, showcasing a global inclination towards SOL. Bitwise’s Chief Investment Officer, Hunter Horsley, emphasized, “Solana is on investors’ minds.” The spotlight on staking-enabled ETF applications extends to Ethereum, with predictions that such approvals could reshape market dynamics. Leveraging staking in Ethereum ETFs can boost yields and enhance investor intrigue, says Markus Thielen, research head at 10x Research.
The SEC’s recent reviews include granting the green light to Hyperliquid’s (HYPE) ETF application, marking a landmark moment for crypto ETFs this October. Experts insist these approvals could trigger major altcoin rallies.
October holds potential for Solana ETF approvals, further fueling anticipation in the crypto sphere. The growing demand, both in Europe and the U.S., underscores Solana’s ascent as a formidable asset for institutions. Ethereum staking-featured ETFs, once approved, could redefine the market’s overall path. Upcoming decisions in the following few weeks are critical, as underscored by experts.
“Solana is on investors’ minds.” – Hunter Horsley, CIO of Bitwise
– Solana staking ETFs show rapid global inflows, suggesting robust investor confidence.
– Ethereum ETFs with staking could reshape the market landscape by increasing yields.
– Approval of crypto ETFs signals potentially significant altcoin rallies in October.
The recent developments in Solana ETF applications and broader ETF market events suggest a pivotal shift in how institutional investors approach crypto assets. The upcoming decisions by regulators are critical, with the potential to significantly influence the trajectory of both Solana and Ethereum in the market. Stakeholders are advised to remain vigilant, keeping a close eye on how these decisions unfold in the near future.
