CoinShares Bets Big on Solana ETF as SEC Nears Likely Approval

Wall Street''s crypto love affair takes another turn—this time with Solana in the spotlight. CoinShares just filed for a Solana ETF, and insiders are pricing approval odds at a staggering 90%. The SEC, once crypto''s arch-nemesis, now seems to be playing nice—or at least calculating which way the regulatory winds are blowing.

Why the sudden warmth toward altcoins? Some say it''s institutional FOMO, others whisper about election-year lobbying. Either way, the usual suspects are already spinning this as ''proof of crypto''s maturity''—never mind that most traders still can''t explain how proof-of-history actually works.

One thing''s certain: if approved, this ETF will flood Solana''s ecosystem with fresh capital... and inevitably, a fresh wave of speculative chaos. Welcome to financial innovation, where the house always wins—but at least now you can bet against it with leverage.

CoinShares Solana ETF Gets Registered in Delaware

According to a filing with the Delaware Division of Corporations dated June 10, CoinShares has registered for the Solana ETF Trust, implying a potential S-1 filing with the U.S. Securities and Exchange Commission (SEC).

The move aligns with the latest progress on Solana ETF approval from the US SEC. On Tuesday, the securities regulator asked the potential Solana ETF issuers to file an updated S-1 form. The issuers rushed to file ETFs for altcoins, including XRP, SOL, HBAR, and SUI, in the post-Gary Gensler era. However, the SEC has yet to approve spot ETFs for any altcoin after the successful approval of Bitcoin and Ethereum.

Multiple firms including Grayscale, Fidelity, VanEck, 21Shares, and Bitwise, have filed for spot Solana ETFs amid demand from institutional clients. The SEC asked the issuers to update language regarding in-kind redemptions and how issuers WOULD approach staking.

Bloomberg senior ETF analyst Eric Balchunas estimated Solana ETFs could be approved within two to four months. They have 90% odds of approval by the SEC.

Possibly. It’s def among the most likely to be out first, but Osprey forcing their Solana 40 act filing effective may have sparked the SEC to act faster on the Solana ones .

Solana Price to Rally

SOL price jumped nearly 5% in the past 24 hours, with the price currently trading at $166. The 24-hour low and high are $156.84 and $167.24, respectively. Furthermore, the trading volume has increased by 40% in the last 24 hours, indicating a rise in interest among traders.

Analysts eye Solana to spike above the $200 psychological level first, which would confirm a further rally in SOL price. Meanwhile, popular analyst Ali Martinez predicted a 5x to 10x bull run if SOL price breaks above the $200 level.

#Solana $SOL breaking above $200 could catalyze a major 5X to 10X bull run! pic.twitter.com/WlkH38xE0O