VanEck and 21Shares, both made a significant move by filing for a Spot Solana ETF with the U.S. Securities and Exchange Commission (SEC).
Bitcoin , in particular, stole the spotlight with a remarkable 7.50% increase in the past 24 hours at press time. This surge outpaced both BTC and, the market cap of Solana memecoins on the 1st of July stood at $7.73 billion, reflecting a 10.4% increase in the last 24 hours.This news was met with much appreciation, especially in the context of the upcoming presidential election, with the two candidates having opposing views on crypto.
Former President Donald Trump has been quite vocal about his pro-crypto stance, often expressing his support for the industry. In contrast, President Joe Biden has shown a comparatively anti-crypto viewpoint, with fewer instances of favoring digital currencies., noted that the news of an upcoming Solana ETF might not be favorable for President Biden’s chances in the election, particularly among undecided or marginal voters.
Current data trends also indicate that SOL’s future remains promising, supported by Bollinger Bands signaling reduced volatility and sustained bullish sentiment.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
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