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American crypto asset manager Grayscale Investments, LLC has officially submitted a proposal to the US Securities and Exchange Commission (SEC) to launch a Solana exchange-traded fund (ETF). This puts Solana in the spotlight as more traditional finance firms intend to enter the altcoin ETF space.
Grayscale’s Move Signals Growing Interest
According to reports, Grayscale filed its Solana ETF application with the U.S. Securities and Exchange Commission (SEC) in March.
The crypto asset manager, already popular in the Bitcoin and Ethereum investment products market, is now turning to Solana as demand grows for exposure to other digital assets.
It is worth mentioning that this move follows Fidelity’s similar filing, made the same month. If anything, this shows that leading institutions are lining up behind Solana.
If approved, the ETF would allow investors to access Solana without buying or managing the cryptocurrency directly.
As reported, the Security Commission has acknowledged the filing, which is often the first step in a long review process. Still, many see this development as a sign that Solana is moving closer to mainstream financial adoption.
Solana Price Holds Steady Amid Bullish Update
As of this writing, CoinMarketCap data shows that Solana (SOL) is down 4.65%. It has traded at $119.03 in the last 24 hours, showing little immediate reaction to the news.
However, interest in the token remains high. It continues to be one of the top-performing altcoins by volume and activity, with a growing number of institutional watchers backing its long-term value.
Other firms, including VanEck, have also filed to launch Solana ETFs, further heating up the race. As more major names submit bids, the spotlight on Solana only grows brighter.
Altcoin ETFs Could Be the Next Big Shift
Analysts believe that considering the latest trends on Polymarket, traders are confident that a Solana ETF will likely be approved in 2025.
It is worth mentioning that Solana is not the only alternative cryptocurrency getting market hype. Other Altcoins like XRP and Dogecoin are also being watched closely, and there is talk of possible ETF filings for them, too.
If the ETFs are approved, traders would not need to go through crypto apps or wallets to invest in these coins. They could use the same platforms they use to buy stocks. Eventually, this access could change how regular investors see and use altcoins.
