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CoinShares Files for Solana ETF as SEC Approval Odds Soar
- CoinShares has filed for a spot Solana ETF in the U.S., joining other issuers in pursuit of SEC approval.
- Bloomberg analysts estimate a 90% approval likelihood for Solana ETFs.
- Solana's speed, cost-efficiency, and staking compatibility attract interest from institutional managers.
- SOL token rose over 5% following the news, indicating market excitement for a potential summer approval.
- CoinShares submitted a new application to the SEC amidst increasing optimism for approval.
- Major asset managers have updated filings following regulatory feedback, with potential SEC decisions expected soon.
- Attention is shifting to Solana's role in broader crypto ETF adoption.
- CoinShares filed for the 'CoinShares Solana ETF' with plans for continuous offering under Rule 415.
- At least eight active Solana ETF applicants are now competing for market entry.
- Recent amendments to filings suggest alignment with regulatory expectations to expedite approval.
- Bloomberg analysts estimate a 90% approval chance and anticipate a decision between July 2 and July 23.
- Solana's attributes compared to Ethereum make it appealing to institutional issuers for ETFs.
- The network's infrastructure supporting in-kind transactions and staking rewards validates Solana's scalability for ETF operations.
- SOL token trading volume has surged post-ETF developments, with positive short-term speculation.
- SOL token trades at $155.63 with a 24-hour trading volume of $5,172,258,485, marking a 5.63% daily increase.
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