Solana ETF: Can an Approval Push SOL to $500?

With the imaginable of a Spot Solana ETF ne'er being person for the cryptocurrency market, tin an support propulsion SOL to a terms of $500? Despiite, facing a flimsy correction Wednesday, the 5th largest cryptocurrency by marketplace cap, had been winning the day. Now, each eyes are connected conscionable wherever the token could go.

With 2 crypto-based ETFs approved past year, the marketplace anxiously awaited what tokens could beryllium next. As Donald Trump has taken up the Oval Office, a caller medication could person a 3rd approved money arsenic conscionable a substance of time. But the biggest question is, what would it mean for the token’s price?

Source: Cwallet

Also Read: Donald Trump Eyes Strategic Reserve for Coins Like Solana, XRP

Solana ETF Looks Closer Than Ever: What Will It Mean for SOL?

In 2024, the integer plus marketplace made past with the debut of not 1 but 2 crypto ETFs. Bitcoin led the way, being called the “greatest motorboat successful ETF history.” With $11.5 trillion plus manager BlackRock starring the way, the concern conveyance proved immensely successful.

But conscionable what toenk could beryllium next? All eyes are seemingly connected the accomplishment of a Solana ETF, with monolithic implications successful store for SOL. The web was precocious utilized by Donald Trump to motorboat his TRUMP meme coin. Skyrocketing 28,000%, it proved to beryllium a monolithic occurrence for the existent US President.

Source – MoneyCheck

Also Read: Solana Predicted to Return to $200 After 14% Drop: Here’s When

That makes the process of a Solana ETF that overmuch much convincing. Indeed, Trump placed pro-crypto Mark Uyeda arsenic acting US Security and Exchange Commission (SEC) Chair. Moreover, 1 of his archetypal orders of concern was to institute a crypto task force. Their intent is to revamp crypto argumentation and regularisation successful the country.

All eyes are connected SOL arsenic the adjacent successful line. So, what would an ETF mean for the cryptocurrency price? Well, crypto terms prediction level CoinCodex expects monolithic things if the merchandise is to beryllium approved.

The level projects Solana to chiefly enactment wrong its existent terms position. However, they expect things to turnaround massively successful July. Randomly, they task SOL to skyrocket 102% from its existent presumption to commercialized astatine a $520 price. The forecast is apt connected to the imaginable accomplishment of a Solana ETF this year.