Solana ETF hype builds: Is NOW the time to bet on SOL?
- VanEck’s Solana ETF (VSOL) hits DTCC listing, a key step towards SEC approval.
- Regardless of ETF momentum and 91% approval odds, SOL’s value reveals bearish indicators and weak demand.
Solana [SOL] simply took a serious leap towards Wall Avenue legitimacy. VanEck’s proposed Solana ETF (VSOL) has landed on the DTCC listing — a key precursor to launch — an indication that regulatory gears are turning.
With approval odds hovering and the SEC opening dialogue, the race for the third U.S. spot crypto ETF is heating up quick.
DTCC itemizing reveals ahead momentum for Solana ETF
VanEck’s proposed spot Solana ETF (VSOL) has formally been listed on the Depository Belief & Clearing Company (DTCC) below its “energetic and pre-launch” class.
Whereas the ETF can not but be created or redeemed, the itemizing makes it eligible for digital buying and selling and clearing; pending a ultimate inexperienced mild from the U.S. SEC.
Supply: DTCC Record of ETFs Energetic and Pre-Launch
Though approval isn’t assured, the DTCC registration provides momentum to the rising subject of ETF issuers. Bloomberg ETF analyst James Seyffart commented on the event, saying,
“I wouldn’t be utterly shocked if we see approvals for Solana ETFs within the subsequent month or so. However I additionally wouldn’t be shocked if now we have to attend till the ultimate deadline in October. Timeline unknown. On the finish of the day — the SEC is participating and that’s a great signal.”
The percentages are excessive
Market confidence in a Solana ETF is climbing quick. Based on Polymarket, merchants now assign a 91% likelihood {that a} spot Solana ETF shall be accredited in 2025; a 17% soar in simply days.
Supply: Polymarket
Whereas the SEC has already accredited Bitcoin and Ethereum spot ETFs, Solana is rising as the subsequent possible candidate, supported by its strong developer exercise, quick transaction speeds, and increasing DeFi ecosystem.
Mixed with current CME futures approvals, the stage is being set for SOL’s mainstream monetary debut.
SOL struggles regardless of ETF momentum
Regardless of rising optimism across the Solana ETF, SOL’s value motion remained below strain. At press time, SOL traded at $147.26, down 0.24% on the day.
The RSI was close to 42, confirmed weakened momentum whereas near oversold territory. In the meantime, the MACD indicator confirmed a bearish crossover, with the sign line positioned above the MACD line, confirming downward strain.
Supply: TradingView
Whereas ETF information could also be bullish long-term, short-term value restoration might face resistance except broader shopping for demand returns.
