"Hmm is it possible to go to the Solana ETf spot first approved before Ethereum?"
The world of currencies crypto Soon there will be a new hot topic in connection spot ETF Solana (SOL) which is currently on its way to being introduced in North America by a federal organization based in Canada SOLWealth.
Following the introduction of spot BTC ETF in the United States (US) has increased interest in the ETF, SOLWealth plans to capitalize on the positive momentum by submitting a prospectus for spot ETF SOL to the Canadian authorities.
Many applications have been made in response to the popularity of BTC ETFs in the US which managed to raise an impressive $53 billion this year, among the biggest contributors being BlackRock and Fidelity Investments.
Spot The SOL ETF will only focus on SOL tokens, therefore the existing diversification of normal ETFs will not be available with the SOL ETF instead it will provide a way to highlight the performance of the digital asset.
Pleased to note that SOL known for its low transaction costs and scalability may have the second highest chance of being approved as an ETF following its market valuation of $60.2 billion.
The string, the platform will better able to support larger projects and applications including providing investors with diversity in the ETF market thus gaining more traction.
As of this writing, SOL price trading at $135 has recorded a gain of 0.11% in the last 24 hours with a market capitalization of over $60 billion then down 12.71% over the last week.
