21Shares has applied for a spot Solana ETF, with Coinbase Custody Trust Company as the custodian. This makes 21Shares the second major firm to do so this week, following Canadian fund manager 3iQ’s similar application aiming for launch on the Toronto Stock Exchange.
The surge in Solana ETF interest highlights growing confidence in Solana as a viable asset for institutional investors. Despite lacking a Solana futures product, experts like Bloomberg’s Eric Balchunas believe a change in US leadership could facilitate approval.
Brian Kelly from CNBC and VanEck’s Matthew Sigel underscore Solana’s robust attributes, such as high throughput and low transaction fees. Solana’s prominence in the crypto market makes it a strong candidate for ETF approval, potentially reshaping investment opportunities and market dynamics.
