VanEck Hints at a Solana ETF Again, Sparking Interest at the Bitcoin Conference as SOL Surpasses BNB in Market Cap-web3.0-php.cn

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VanEck Hints at a Solana ETF Again, Sparking Interest at the Bitcoin Conference as SOL Surpasses BNB in Market Cap

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Jul 27, 2024 pm 10:00 PM

vaneck Bitcoin Conference BNB SOL Solana ETF

The spot Ethereum ETFs have been trading for about a week on Wall Street, and now investors are looking forward to the next crypto ETF, which is expected to be Solana, the second-largest altcoin.

VanEck Hints at a Solana ETF Again, Sparking Interest at the Bitcoin Conference as SOL Surpasses BNB in Market Cap

The second-largest altcoin to receive an ETF might be Solana, with investors eagerly awaiting the next crypto ETF after the spot Ethereum ETFs began trading on Wall Street a week ago.

Interestingly, colossal asset manager VanEck is once again hinting that a spot Solana ETF could be in the works, Coingape reports.

Several people at the Bitcoin conference inquired about Solana, according to a recent tweet by VanEck.

Solana ETF Anticipated by Market

As a reminder, VanEck filed their Solana ETF in late June, ahead of the spot Ether ETFs. With liquidity, the altcoin is performing well, and the SEC will have no trouble approving a Solana ETF, VanEck's latest tweet suggests.

However, large asset managers like BlackRock are not enthusiastic about expanding crypto ETFs, such as a Solana ETF.

Speaking at the Bitcoin Conference, BlackRock’s Head of Digital Assets Robert Mitchnick said that the SEC will probably put up some barriers. He added that no altcoin accounts for more than 5% of the total crypto market cap, except for ether, so the market needs fewer crypto ETFs, in his view.

Solana Surpasses Binance Coin in Market Cap

Solana (SOL) is now the fourth-largest cryptocurrency by market capitalization, surpassing Binance Coin (BNB), according to the latest update. SOL managed to surpass BNB for the first time in four years in the latest rally.

Solana’s price has surged by almost 35% in the last two weeks. During the same period, Binance Coin (BNB) went up by 10%.

Solana managed to stay above support and is eyeing its next move to $202, popular crypto analyst Rekt Capital noted, as Solana TVL increased by 15% this month.

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