CandleFocus Solana ETF Hopes Fade as SOL Price Stumbles
2024-09-09
Author: Content Editor
The ambitions for a Solana ETF have diminished, reflecting the struggles of the broader crypto market. Bloomberg ETF analyst James Seyffart explained the challenges of a potential Solana ETF, including regulatory hurdles. The recent withdrawal of Cboe's filings for Solana ETFs is believed to be influenced by the SEC's classification of Solana as a security. Sui Chung, CEO of CF Benchmarks, expressed skepticism about the realization of a Solana ETF due to the absence of notable, regulated Solana futures markets. Solana's price has faced resistance in surpassing $200 and has dropped 25% over the past two weeks. Despite the challenges, supporters believe Solana is primed for a rebound when the crypto market recovers.
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