VanEck Hints at Solana ETF Amid Buzz at Bitcoin Conference as SOL Overtakes BNB

VanEck
is
hinting
at
a
Solana
ETF
again,
sparking
interest
at
the
Bitcoin
Conference
as
SOL
surpasses
BNB
in
market
cap.

Investor
Interest
Peaks
with
VanEck’s
Solana
ETF
Hint

The
spot
Ethereum
ETFs
have
been
trading
for
about
a
week
on
Wall
Street,
and
now
investors
are
looking
forward
to
the
next
crypto
ETF,
which
is
expected
to
be
Solana,
the
second-largest
altcoin.
Intriguingly,
the
colossal
asset
manager
VanEck
is
once
again
dropping
hints
that
a
spot
Solana
ETF
might
be
in
the
works,
per
Coingape.

Quite
a
few
people
at
the
Bitcoin
conference
have
asked
about
Solana,
according
to
a
recent
tweet
by
VanEck.

Market
Anticipates
SEC
Approval
for
Solana
ETF

Before
the
spot
Ether
ETFs
were
live,
VanEck
filed
their
Solana
ETF
in
the
latter
month
of
June,
as
is
well
known.
According
to
VanEck’s
last
tweet,
the
altcoin
is
doing
well,
and
the
SEC
will
likely
approve
a
Solana
ETF
without
any
trouble
with
liquidity.

On
the
other
hand,
major
asset
managers
like
BlackRock
aren’t
exactly
rooting
for
the
expansion
of
crypto
exchange-traded
funds
like
Solana.

While
speaking
at
the
Bitcoin
Conference,
Robert
Mitchnick,
Head
of
Digital
Assets
at
BlackRock,
stated
that
the
SEC
would
likely
establish
boundaries.
He
went
on
to
say
that
no
altcoin
accounts
for
more
than
5%
of
the
whole
crypto
market
cap,
with
Ethereum
being
the
only
exception.
Therefore,
in
his
opinion,
the
market
needs
fewer
crypto
ETFs.

Solana
Surpasses
Binance
Coin
in
Market
Cap

Solana
(SOL)
is
now
the
fourth
biggest
cryptocurrency
by
market
cap,
surpassing
Binance
Coin
(BNB),
according
to
the
most
recent
update.
In
the
most
recent
run-up,
SOL
has
succeeded
in
surpassing
BNB
for
the
first
time
in
four
years.

The
price
of
Solana
has
been
steadily
rising
for
the
last
two
weeks,
increasing
by
nearly
35%.
During
the
same
time
frame,
BNB,
The
Binance
Coin,
has
seen
a
10%
increase.

With
the
Solana
TVL
increasing
by
15%
this
month,
popular
crypto
analyst
Rekt
Capital
noted
that
Solana
has
held
above
the
support
and
is
aiming
for
its
next
move
to
$202.

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