Solana Soars 10%, Reaches New All-Time High Market Cap: What Is Going On?

Solana (CRYPTO: SOL) is up 10% on the day and closing in on its all-time high as new Solana spot ETF filings indicate continued institutional interest.

What Happened: Eleanor Terrett of Fox Business on Thursday tweeted that the SEC is reportedly engaging with issuers interested in launching a Solana spot ETF, with progress being made on S-1 applications, citing sources familiar with the matter.

Issuers like VanEck, 21Shares and Canary Funds have already filed S-1s, while Bitwise recently announced its intent to do so.

Exchanges like Cboe Global Markets (BATS:CBOE) are expected to submit 19b4 filings on behalf of these issuers soon, a key step in seeking SEC approval to list these ETFs.

Once filed, the SEC has 240 days to approve or deny the products. However, ...

Full story available on Benzinga.com