Solana is stepping up to the “big league” thanks to the approval of the first Solana staking ETF, which may bring wider altcoin adoption among yield-seeking institutions, an analyst said.
Investors are closely watching the launch of the first Solana staking exchange-traded fund (ETF), a move expected to inject billions of dollars into Solana and the broader altcoin market.
At least three altcoin ETFs are expected to launch later on Tuesday: Bitwise’s Solana (SOL) ETF and Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, according to Bloomberg analyst Eric Balchunas.
The US Securities and Exchange Commission’s (SEC) approval of the first Solana staking ETF is a “transformative” milestone that may attract an additional $3 billion to $6 billion worth of new capital into the altcoin within the first year, according to Bitget exchange’s chief analyst, Ryan Lee.
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