Chances of approval for spot Solana ETF

[Redator]

While traders buy Bitcoin and Ethereum at any sign of a dip, rumors are circulating in the market that the SEC might soon give the green light to several ETFs, including those for XRP and SOL.

After the Securities and Exchange Commission approved general listing standards for crypto ETFs and a number of amended Solana fund filings were submitted, many speculate that a wave of new crypto ETFs is about to reach its peak. According to rumors, Solana ETF approval could come as soon as next week. This optimism is driven not only by regulatory shifts, but also by the successful launch of Bitcoin and Ethereum ETFs, which have demonstrated the maturity of the crypto market and its ability to attract institutional investors. As one of the most promising and fast-developing blockchains, Solana is naturally a candidate to become the next asset with simplified access through an ETF. Its high throughput, low fees, and rapidly expanding dApp ecosystem make it attractive to a broad range of investors.

However, the current US government shutdown could ruin everything. A halt in governmental operations would put everything on pause. It is not yet clear whether issuers expect approved spot SOL ETFs to include staking, although the latest S-1 amendment package did address staking.

Let's recall that the first spot Solana ETF applications were filed in the summer of 2024, with the SEC starting to actively work with S-1 forms in June.

Solana may become the third crypto asset to receive spot ETF status, after bitcoin and ether. Solana's market cap of $113 billion makes it one of the largest tokens, although it is still much smaller than Bitcoin and ether, which have market caps of $2.2 trillion and $503 billion, respectively.

Other tokens, such as Ripple and Litecoin, may also receive quick approval. This assumption is based on several factors. First, XRP and LTC have a long history and more established market capitalization compared to some other altcoins. Second, their technological foundations are well researched, and their networks have proven reliable over many years. Third, they are generally not classified as securities in most jurisdictions, which is a key point for regulators. If Ripple and Litecoin successfully navigate these regulatory hurdles, this could lead to significant capital inflows and increased awareness about cryptocurrencies overall.

A number of experts expect that following this, XRP could rise to $33 in the next bull cycle.

Trading recommendations

Regarding the technical outlook for Bitcoin, buyers are now targeting a return to the $114,700 level, which opens the way directly to $116,000, and from there it's a short step to $117,400. The ultimate target is the peak around $118,400. Breaking through this would signal further strengthening of the bull market. In case of a decline, buyers are expected at $113,800. If the asset moves back below this area, BTC could quickly fall to the $111,200 region. The farthest downside target is $109,900.

As for Ethereum, a clear consolidation above the $4,235 level opens the path directly to $4,331. The ultimate target is the peak near $4,441; breaking through would indicate a strengthening bull market and increased buyer interest. If the price declines, buyers are expected at $4,132. A drop below this area could quickly send ETH towards $4,039, with the farthest downside target at $3,942.

What's on the chart

• Red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.

The material has been provided by InstaForex Company - www.instaforex.com