CoinShares has filed Form S-1 with the US SEC for a spot Solana ETF, generating positive forecasts within the crypto industry.
CoinShares Updates Spot Solana ETF Filing
CoinShares, a European asset manager, has submitted an S-1 form to launch a spot Solana ETF. This marks the eighth application among other market participants like Fidelity and Grayscale. The filing specifies CoinShares as the sponsor, with Coinbase Custody and BitGo Trust as custodians. The report indicates plans to stake a portion of the fund's SOL assets.
Registration of Trust in Delaware
CoinShares swiftly moved to register for the Solana ETF Trust in Delaware last week, drawing attention from market participants. The US SEC urged issuers to update information regarding redemptions and approaches to staking. The odds of approval have increased from 80% to 90%, indicating a possible favorable decision by the SEC in the coming months.
SOL Price Forecast to Hit $300
Solana (SOL) price surged over 6% in the last 24 hours and stands at $157.85. While this recovery took place, the price remains lower than last week’s level. Analyst Marty Party noted a bullish pattern formation, targeting $278, while other experts suggest hitting the $200 level first to confirm a bullish trend.
CoinShares' filing for a spot Solana ETF remains a focal point for the market, and forecasts for SOL price continue to clarify as the SEC's decision approaches.
