A Potential Game-Changer for Solana (SOL)

TL;DR

• Grayscale Solana’s ETF could be impacted by today’s SEC decision.
• Chicago Mercantile Exchange’s plans to launch SOL futures and XRP on February 10, has already impacted the asset’s performance. If the products go live, they may attract institutional investors who will have a positive impact on both tokens over time.

Potential Catalyst

Solana, or SOL for short, is one of the best-performing cryptos in the recent week. Its price has risen by 20% during that period. It reached The price reached an all-time record of $285 plus on 19th January, while it is now trading at just under $250.

Two-thirds of a million people are able to vote. You can also read about the importance of this in Grayscale’s intent to transform its Solana Trust Fund in an Exchange-Traded Fund (ETF), is a factor which suggests that bull runs may win. Securities and Exchange Commission, or SEC, is in charge of approving these filings. The initial deadline to make a decision on Grayscale’s investment is set Today (January 23, 2019) is a holiday.

Some industry players speculated that due to the recent changes in leadership at the Commission, the ETF mentioned above could be given the green light. Gary Gensler was the SEC’s leader until January 20. He was known to be an opponent of cryptocurrency. He was a skeptic of cryptocurrency. stepped down Mark Uyeda, a pro-crypto Mark Uyeda took over the leadership of the company on Donald Trump’s inaugural day. 

VanEck 21Shares Bitwise Canary Capital and Canary Capital, among others, have also filed applications to launch SOL-based ETFs in the United States. SEC deadline is January 25 Give it a Nod Or deny these applications. 

The watchdog is a very important thing to consider The authority to You can extend the period of review beyond initial deadlines. You can also find out more about this by clicking here. It is not a Take a look at the following: We have not yet seen if the new leadership will continue the policy that Gensler implemented.

A little over a month ago, SEC approved There is a new wave of Bitcoin-specific ETFs available in the United States. Companies such as BlackRock and Grayscale were behind these funds, along with Bitwise, Wisdom Tree and Bitwise. The main cryptocurrency price plunged It was a couple of weeks after the announcement that it really started to pump. 

You can also find out more about this by clicking here. Could serve As a warning for investors, the possible launch of a Solana ETF could be problematic. Generally, It is beneficial to the value of the asset, but it can lead to increased volatility or a short term move in the opposite direction.

Bullish Additional Element

A rumored plan by the Chicago Mercantile Exchange could have a positive effect on Solana’s price. You can also read about how to introduce yourself. SOL futures and XRP. The Financial Derivatives Exchange is looking at it. The 10th of February. 

Both assets were affected immediately by the news. SOL pump You can also find out more about the following: As high as $270, while XRP briefly jumped 32.8 dollars 

If approved, the contract will permit people to speculate about the price of future products. Assets aforementioned Without actually owning the tokens. These tokens could attract more investors to Solana, Ripple and their ecosystems. This may have an impact on the native token prices.