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The U.S. Securities and Exchange Commission (SEC) is set to decide on Solana and XRP exchange-traded fund (ETF) applications by late January, with major firms like Grayscale and VanEck awaiting approval. A JPMorgan report suggests that Solana ETFs could attract $3–$6 billion, while XRP ETFs might pull in $4–$8 billion in their first six months. Approval could significantly boost Solana's price, as the market has not fully priced in the potential impact.
JPMorgan forecasts that potential Solana and XRP exchange-traded funds (ETFs) could attract billions in new investments, with projections of $3 billion-$6 billion for Solana and $4 billion-$8 billion for XRP. The approval of these ETFs is anticipated to significantly impact their prices, similar to the effect seen with Bitcoin ETFs. Major asset managers are awaiting decisions from the SEC on their applications by the end of January 2025, which could further influence market dynamics.
Solana's price surged over 10% to exceed $200 following a $55 million SOL transfer to Kraken, coinciding with increased speculation around a potential U.S. spot Solana ETF approval. Analysts suggest that such approval could push Solana's price toward $400, with major asset managers vying to launch the first ETF. Globally, Brazil's approval of its first Solana ETF has further fueled market optimism, contributing to Solana's growing appeal.
Solana's price surged over 10% to exceed $200 after a $55 million transfer from Pump.fun to Kraken, following a dip to $189 earlier in the day. The memecoin platform has exerted significant sell pressure on Solana, depositing over $303 million and selling more than $41 million worth of SOL in 2024.Anticipation for a U.S. spot Solana ETF is growing, with a 76% likelihood of approval, potentially driving prices to $400 by 2025. Major asset management firms are competing for ETF approval, with deadlines approaching for several applications.
Alejo Pinto
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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