A Solana ETF is closer to reality, with Bloomberg analysts giving them a 70% shot at SEC approval. But the real shocker today is how we did not realize $TRUMP was the top signal for Solana ($SOL).
Following Bitcoin and Ethereum’s ETF success, Solana could mark the next evolution in merging blockchain with conventional finance, promising broader adoption and a revamped image.
Is SOL A Security, and Is The Solana ETF Screwed?
Solana is at a regulatory crossroads. Unlike Bitcoin and Ethereum, which the SEC treats as commodities, Solana faces the risk of being labeled a security – a move that could derail ETF approvals.
Bloomberg’s Eric Balchunas pegs the chances of approval at 70% , but a classification shift could slam the brakes on progress. With the SEC’s new pro-crypto leadership drawing public input on Solana ETF filings, the outcome may set a precedent for future blockchain assets.
🚨 BREAKING 🚨
BINANCE IS SELLING ALL THEIR SOLANA HOLDINGS pic.twitter.com/jGJY5mRixN
— Crypto Beast (@cryptobeastreal) February 25, 2025
The Solana ETF race is on, and Franklin Templeton is leading the way with a proposal featuring a rare twist—staking rewards. With $1 trillion in assets and Coinbase Custody providing security, the fund would directly connect investors to Solana’s price while generating token-based income.
Meanwhile, Grayscale, VanEck, Bitwise, and others reflect a growing appetite for SOL-based products.
Noticeably sidelined is BlackRock, the undisputed giant in crypto ETFs. With $11.6 trillion under management and dominance in Bitcoin and Ethereum ETFs, the firm’s silence on $SOL has raised eyebrows. Citing client priorities and liquidity concerns, BlackRock’s next move is anyone’s guess.
Have Meme Coins Ruined Solana?
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An argument is growing online that Solana ruined crypto. It gave billions to Jeets (Just Exit Early Traders), and normies were scammed.
Solana has been pigeonholed in recent years as a “meme chain.” However, an ETF could legitimize its broader capabilities as a high-performance blockchain for finance and commerce. Conversely, it could be too late for SOL.
Solana meme coins and Tether are just a digital version of BCCI, honestly. Some day this will be common knowledge.
— Whitney Webb (@_whitneywebb) January 19, 2025
Solana’s dream of becoming the “Nasdaq of blockchain” has been clouded by its attachment to volatile projects. Institutional-grade ETFs, however, could rewrite that narrative, pushing Solana toward mainstream financial acceptance. Bitcoin ETFs have already raked in $40 billion , and Ethereum isn’t far behind.
ETF approval could further open Solana’s doors to traditional finance, boosting the adoption of tools like Solana Pay, its QR-code-based crypto payment system.
Where Will The SOL Price Head Next?
Just as Ethereum’s L1 hegemony was threatened by Solana years ago, $SOL is now on its back foot until an ETF is approved. Chains like SUI , BNB, and XRP are not going anywhere.
Solana is still the giant when it comes to L1 dominance. Yet whether this new chapter will fulfill Solana’s Nasdaq-like vision remains to be seen.
EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress
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Key Takeaways
- A Solana ETF is closer to reality, with Bloomberg analysts giving them a 70% shot at SEC approval.
- Just as Ethereum’s L1 hegemony was threatened by Solana years ago, $SOL is now on its back foot.
