Solana (SOL) is poised for potential growth in 2025, driven by increasing retail investor interest and the anticipated approval of a U.S.-based spot Solana exchange-traded fund (ETF).
Solana (SOL) is poised for potential growth in 2025, driven by increasing retail investor interest and the anticipated approval of a U.S.-based spot Solana exchange-traded fund (ETF).
Solana recently fell below the $200 mark, reflecting a weekly decline of over 7%, according to data from Cointelegraph Markets Pro.
The approval timeline for Solana ETFs is drawing significant attention, with several asset management firms, including VanEck, Grayscale and Bitwise, vying for approval. Grayscale’s application deadline is set for Jan. 23, 2025, while preliminary decisions for other applicants, such as 21Shares and Canary Capital, are expected by Jan. 25.
The crypto industry is hopeful that the first U.S.-based Solana ETF will enhance accessibility for traditional investors who may not have accounts with centralized exchanges.
Nicolai Søndergaard, a research analyst at Nansen, indicated that Solana's appeal to retail investors often stems from its price point, which allows them to acquire a whole unit of SOL for a lower price compared to fractional ownership of Bitcoin (BTC) or Ether (ETH).
This perception can lead new investors to favor Solana, despite the importance of considering market capitalization for a more accurate assessment of a crypto value and potential volatility.
Analysts are increasingly optimistic about Solana, projecting its price could surpass $400 based on historical trends and the anticipated launch of a U.S. Solana ETF. The recent approval of Brazil’s first Solana ETF on Aug. 7 has set a precedent that may influence decisions in other jurisdictions.
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