The crypto community is abuzz with the news of a new ETF filing for Solana by Invesco and Galaxy Digital.
New Solana ETF Filing
Invesco and Galaxy Digital Asset Management have filed for an ETF on the SOL token. This event has attracted significant investor attention given current market dynamics.
Market Reactions
Despite positive expectations, the price of SOL has dropped by 7.23%, raising many queries in the crypto community. Currently, the odds of ETF approval by July 31 have decreased by 8% to 42%, indicating a decline in investor optimism.
Short-term Predictions for Solana
With a current trading price of $147.50 and a market cap of $77.42 billion, Solana remains the sixth-largest crypto project. Forecasts suggest potential rises to $158 and $189; however, should the situation worsen, the price could drop to $140 or even $127.
The Solana ETF filing has raised more questions than answers. Despite current challenges, long-term forecasts remain optimistic.
