Solana Ends Week Up 6% as SOL ETF Takes Major Step Forward

Despite a plethora of geopolitical concerns and economical frailty, the cryptocurrency marketplace has recovered its footing this week. Among the assets that person enactment themselves successful large presumption successful April is Solana, arsenic the token ends the week up 6% pursuing its SOL ETF taking a monolithic measurement toward.

Since the support of some Bitcoin and Ethereum ETFs successful 2024, each eyes person been connected which assets could travel suit. Subsequently, Solana has emerged arsenic a favorite, with the cryptocurrency gaining immoderate large momentum for the impending concern vehicle.

Source: Bankrate

Also Read: Solana Mid-April Price Prediction: Can SOL Reclaim $150?

Solana ETF Takes Important Step Forward arsenic Token Rebound to Start April

2025 has been a troubling period for a big of cryptocurrencies and the accepted concern market. Over the past year, Solana is down much than 35%, according to CoinMarketCap. Moreover, it ended the archetypal week of April down much than 15% implicit the past 30 days.

However, it reversed that inclination arsenic it ended the archetypal week of the period and looked forward. Specifically, Solana emerged arsenic it ended the week up 6% connected Friday, with talks of a imaginable SOL ETF taking a large measurement forward. Indeed, the plus could beryllium acceptable to go conscionable the 3rd crypto-based ETF to get US Securities and Exchange Commission (SEC) approval.

Source: Investopedia

Also Read: PayPal Now Supports Solana (SOL) & Chainlink (LINK) for US Customers

Cryptocurrency plus manager Grayscale had filed a registration statement for its Solana Trust (GSOL) connected Friday. Indeed, they are seeking to crook the spot into an ETF connected NYSE Arca. Additionally, the determination follows its submission of 19b-4 for its Solana spot successful December of past year.

The plus manager took the aforesaid attack erstwhile issuing its Bitcoin and Ethereum ETFs. Moreover, the concern conveyance has pushed an progressively bullish stance connected SOL’s prospects this year. Cryptocurrency terms prediction level CoinCodex has forecasted the plus to scope $134 this month, up 9% from its existent position.

However, they expect things to get adjacent amended for the token arsenic the twelvemonth progresses. Specifically, they task the token to leap much than 144% successful September, reaching a 2025 precocious of $291.