Bloomberg analysts predict the SEC may soon begin approving altcoin-based ETFs, including those for Solana and Litecoin. Here are the key aspects of this process.
Potential SEC ETF Approvals
According to Bloomberg, the SEC is expected to approve ETFs tracking broad crypto indexes by July 2. There is a high probability of approval for Solana and Litecoin ETFs, estimated at 90%.
Solana as a Leading Altcoin
Solana may be among the first altcoin ETFs to gain approval. Discussions have taken place with issuers regarding the incorporation of Solana staking into fund structures. Initial negotiations around this process are in progress.
Market Indicators and Outlook
Currently, Solana (SOL) is trading at $166.15. Technical indicators such as MACD and RSI suggest potential short-term upward momentum for the asset. MACD has shown a recent bullish crossover, indicating renewed buying interest.
The imminent approval of Solana-based ETFs may significantly impact the cryptocurrency market. Technical indicators also support a positive short-term outlook for SOL.
