Analyst Forecasts a 90% Probability of Solana ETF Approval; Here’s When We Might Expect It
Bloomberg Senior ETF analyst Eric Balchunas has significantly raised the expectations for new crypto exchange-traded funds (ETF), predicting a 90% chance we might see a Solana (SOL) ETF this summer.
His bullish outlook follows recent moves by the U.S. Securities and Exchange Commission (SEC) and NASDAQ to approve a number of new altcoin ETFs.
Accordingly, Balchunas predicts other cryptocurrencies like Litecoin (LTC) and (XRP) may also benefit from the trend.
Should the SEC plans materialize, it would represent a historic expansion of regulated crypto assets in the U.S. and usher in what Balchunas calls an “Altcoin ETF Summer.”
“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs.”
A notable feature under consideration is the inclusion of staking in Solana ETFs, which would be a major departure from earlier proposals.
The effects of the potential approval and Bloomberg predictions have already begun to show. Solana gained 3.61% over the past 24 hours, trading at $164.77 at press time, while its daily trading volume has spiked nearly 52% to $5.7 billion.
Institutional interest in Solana likewise continues to grow, adding to the bullish momentum. French banking giant Société Générale-FORGE, for instance, has announced plans to issue its USD-pegged stablecoin to the blockchain.
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