VanEck and 21Shares File for Spot Solana ETFs, Triggering SOL Price Rally

• Solana surged over 12% in the past seven days following VanEck’s ETF filing.
• 21Shares followed VanEck’s lead to file for a spot Solana ETF last Friday.
• Kaiko Research said the filings boosted market sentiment temporarily.

Solana (SOL) has rallied over 12% in the past seven days, driven by recent spot Solana exchange-traded fund (ETF) filings by VanEck, a leading American investment management firm. SOL climbed from a low of $134.76 on June 27th to $151.15 the next day before retracing slightly.

Following VanEck’s lead, 21Shares, a Swiss-based crypto-native financial institution, also filed for a spot Solana ETF last Friday. Kaiko Research, a leading crypto analytics platform, attributed SOL’s recent rebound to these filings.

Our latest Data Debrief is out now.

This week we looked at the muted reaction to SOL ETF applications, Altcoin Liquidity and measuring BTC-ETH portfolio's using our Value at Risk tool.https://t.co/8emmubddvp

— Kaiko (@KaikoData) July 1, 2024

According to Kaiko, the ETF filings temporarily boosted market sentiment, which had been dampened by fears of a broad selloff due to Mt. Gox repayments. Further analysis by the firm reveale…

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