The first American fund on cryptocurrency exchanges (ETF) will be launched on Wednesday, allowing investors to hold Solana (soil) and win the yield thanks to jalitude.
Two days after Cointtelegraph reported that Rex-Osprey Solana and the FNB of Staking could be launched imminently, the Rex issuing actions confirmed on Monday that the fund should make its debut.
As its name suggests, the Rex-Osprey fund will give investors direct exposure to the SPOT SOL as well as stimulation income, potentially opening the way to a broader institutional adoption of the crypto.
The launch follows the updated prospectus of Rex and the positive comments of the American Commission of Securities and Exchange (SEC) concerning its single C -CORP commercial structure – an arrangement that the regulator had previously argued in conflict with the so -called ETF rule.
The SEC held in May that the implementation does not violate the laws on securities, but still decided to kick its decision on the marked FNBs and other Altcoin funds.
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Sol Price extends the rally
Solana’s price increased shortly after ETF news, climbing 6% to around $ 158, according to Cintelegraph. With this gain, Sol is now up more than 12% in the last seven days.
Despite the rally, Sol remains 46% below its top of all time from January, according to Coingecko data.
At its current price, Solana has a market capitalization of $ 83.5 billion, making it the sixth cryptocurrency.
Some analysts have hypothesized that the approval of ETF Solana could trigger an “altcoin summer” fueled by new funds focused on Altcoin.
Bloomberg ETF senior analyst Eric Balchunas noted in June that several of these funds were on the right track for approval by July, Solana “probably opening the way”.
Solana has also grown in the decentralized exchange market (DEX), its dex volumes recently exceeding those of Ethereum. Raydium, Pump.fun and Orca were major contributors to this overvoltage, according to Cointelegraph and TradingView Data.
In relation: Us Crypto ETF approval Odds Surge to ‘90% or more ‘ – Bloomberg Analysts
