Ark 21Shares Officially Files for Spot Solana ETF

In This Post

  • ARK Invest, led by Cathie Woods, files for Spot ETF
  • ARK 21Shares is a partnership between 21Shares and Ark Invest

VanEck took the crypto community by storm after announcing its filing for Solana Spot ETF, becoming the first entity to do so. But in the competitive industry, players are always ready to pounce on a new project. ARK 21Shares, which already has a Bitcoin ETF offering, has also filed for Spot ETF.

Solana’s Rising Popularity

Despite the lack of clarity on the approval of Ethereum ETF, the industry is now focusing on the next big thing. After Bitcoin and Ethereum, Solana is now taking the spotlight with the SOL memecoins, creating a new wave of enthusiasm in the market.
Solana is not as expensive or difficult to trade as Bitcoin and Ethereum, which is a key reason for the surge of interest in Altcoins. 

Also Read: VanEck files for first-ever US Solana ETF, targeting DeFi growth

New All-Time High Incoming?

The news of VanEck filing for spot EFT led to a 15% surge in Solana’s price, which rose from $136 to $150. Now, with other institutions taking interest, there is a high possibility that Solana will experience a bullish move.

In just one year, Solana has shown an impressive 776% growth. In contrast, Bitcoin has grown by 99% and Ethereum by 89% in one year.

A few analysts have reported that Solana’s price can reach around the $1300 mark if the ETFs are approved. With massive community support, past performance, and the SOL memecoin trend captivating the heart of the community, the analyst’s prediction does not seem impossible. 

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Also Read: Analysts Expect Solana’s Price to Hit $1300 Amid ETF Filings

Harsh Chauhan

Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.

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