Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction
Solana (SOL), currently ranked 10th in the cryptocurrency market by capitalization, has been gaining traction, trading robustly around $168.55, with an intra-day high reaching $171.64.
The recent surge in SOL’s price can be attributed to several factors, including the overall bullish sentiment in the crypto market and renewed strength in Bitcoin.
Notably, the potential approval of Solana ETFs without requiring existing CME futures markets, as suggested by SEC Commissioner Hester Peirce, has significantly boosted investor confidence.
This development, coupled with favorable Bitcoin price predictions, underscores Solana’s potential for continued growth and increased market presence.
SEC Commissioner Hester Peirce recently suggested that Solana ETFs could be approved without the need for existing CME futures markets, historically a requirement for crypto ETFs. This potential change could streamline the approval process and boost investor confidence in Solana.
With increasing institutional interest, highlighted by recent ETF applications from VanEck and 21Shares, there is optimism about Solana’s growth. However, approval timing may be influenced by the upcoming U.S. elections. Bloomberg’s Eric Balchunas noted that political changes could impact the SEC’s stance on ETF approvals.
Key Points:
Therefore, the potential approval of Solana ETFs without CME futures could simplify the process, enhance investor confidence, and drive Solana (SOL) growth. However, the upcoming U.S. elections may influence the timing of this approval.
On the U.S. front, recent economic data and speculation about Federal Reserve rate cuts have improved sentiment in the crypto market. Lower inflation, indicated by decreasing Consumer Price Index (CPI)
