Solana

Spot

<p>Now that the spot Ethereum ETFs have traded for almost a week on Wall Street, investors are keenly eyeing the next crypto ETF and gunning for the second-largest altcoin Solana. Interestingly, asset management giant VanEck is once again teasing the possibility of introducing a spot Solana ETF.</p> 
<h2 id="will-vaneck-push-for-spot-solana-etf">Will VanEck Push for Spot Solana ETF?</h2> 
<p>During the ongoing Bitcoin conference, VanEck recently shared a tweet stating that a large number of attendees inquired about Solana with them. As we know, VanEck submitted its Solana ETF filing in the last month of June even before the <a href="https://coingape.com/ethereum-foundation-moves-92500-eth-ether-etf-outflows-surge/" target="_blank" rel="noopener">spot Ether ETFs</a> went live. The recent tweet from VanEck suggests that there’s a strong interest in the altcoin and liquidity won’t be a major hurdle for the SEC to approve a Solana ETF.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">A surprising amount of people asked us about Solana at our Bitcoin booth</p> 
 <p>— VanEck (@vaneck_us) <a rel="nofollow" href="https://twitter.com/vaneck_us/status/1817007127459696797?ref_src=twsrc%5Etfw">July 27, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>However, other asset management giants like BlackRock are not much in support of having more <a href="https://coingape.com/blackrock-crypto-chief-denies-chances-of-solana-xrp-etf-approval/" target="_blank" rel="noopener">Solana ETF</a> or other crypto ETFs in the market. Speaking at the Bitcoin Conference, BlackRock Head of Digital Assets Robert Mitchnick said that the SEC would be drawing a line somewhere. He added that apart from Ethereum, all other altcoins contribute less than 5% of the total crypto market cap. Thus, he believes that it makes no sense to have more crypto ETFs in the market.</p> 
<p>Also Read: <a href="https://coingape.com/anthony-scaramucci-clears-air-on-political-debate-on-crypto/" target="_blank" rel="noopener">Anthony Scaramucci Clears Air On Political Debate On Crypto</a></p> 
<h2 id="sol-surpasses-bnb-for-4th-spot">SOL Surpasses BNB for 4th Spot</h2> 
<p>In the latest development, Solana (SOL) has managed to surpass Binance Coin (BNB) as the fourth-largest cryptocurrency by market cap This is the first time in four years that SOL has managed to overtake BNB in the recent run-up.</p> 
<p>Over the past two weeks, the <a href="https://coingape.com/price/solana/" target="_blank" rel="noopener">Solana Price</a> has been on a solid recovery path gaining more than 35%. In the same period, The Binance Coin (BNB) is up by 10%.</p> 
<figure id="attachment_209738" aria-describedby="caption-attachment-209738" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209738" src="https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge.jpeg" alt="" width="2797" height="1777" srcset="https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge.jpeg 2797w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-300x191.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-1224x778.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-768x488.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-1536x976.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-2048x1301.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/07/Solsna-Price-Surge-150x95.jpeg 150w" sizes="(max-width: 2797px) 100vw, 2797px">
 <figcaption id="caption-attachment-209738" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/santimentfeed/status/1816886540938936439" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>As of press time, the SOL price is trading at 3.88% up at $182 with bulls holding firmly above the crucial support level of $175. Popular crypto analyst Rekt Capital stated that Solana has managed to successfully hold above the support eyeing its next move to $202 with the <a href="https://coingape.com/markets/solana-price-aims-for-220-after-15-tvl-surge-in-july/" target="_blank" rel="noopener">Solana TVL</a> surging by 15% this month.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><a rel="nofollow" href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a></p> 
 <p>Looks like the Solana retest was successful</p> 
 <p>Continue to hold this red area as new support and SOL will be able to at least revisit the $202 resistance over time<a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a rel="nofollow" href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a rel="nofollow" href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw">#SOL</a> <a rel="nofollow" href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> <a rel="nofollow" href="https://t.co/63TiOIipdR">https://t.co/63TiOIipdR</a> <a rel="nofollow" href="https://t.co/WC1MC1iH2h">pic.twitter.com/WC1MC1iH2h</a></p> 
 <p>— Rekt Capital (@rektcapital) <a rel="nofollow" href="https://twitter.com/rektcapital/status/1816822764856131685?ref_src=twsrc%5Etfw">July 26, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Also Read: <a href="https://coingape.com/bitcoin-price-to-hit-13m-michael-saylor-predicts-amid-btc-rally/" target="_blank" rel="noopener">Bitcoin Price To Hit $13M, Michael Saylor Predicts Amid BTC Rally</a></p> 
<p>The post <a href="https://coingape.com/vaneck-teases-solana-etf-again-as-sol-surpasses-bnb-for-4th-spot/">VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

VanEck Teases Solana ETF Again As SOL Surpasses BNB for 4th Spot

Table of Contents

Coingape News Media

Other articles published on Jul 27, 2024

Peter Schiff Challenges Trump’s Bitcoin Endorsement as Vote-Seeking Move

Crypto Politics: Ripple CEO Warns Harris on Anti-Crypto Stance

Alien: Romulus features an Easter egg from the horror game Alien: Isolation

Tyler Winklevoss Calls for Political Neutrality in Crypto Sphere

Expert’s Top Crypto Choices for Summer: NEAR Protocol, Notcoin, Render, and …

Analyst Predicts BTC Pullback to $66.4K Before Rallying to $69.2K; Find Out How

Join our free newsletter for daily crypto updates!