Solana ETF Drama: Is the SEC Finally Giving In? 🤔💰

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So, apparently, a bunch of asset managers are *this close* to launching a Solana Spot ETF. 🤑 Friday was a big day, folks-multiple issuers filed amended S-1 forms with the SEC. You know what that means? More paperwork. Yay. 📑 But hey, at least they’re talking, right? Or maybe the SEC is just humoring them. Who knows? 🤷‍♂️

Solana ETF Filings: Approval or Just More Red Tape? 🎉🤦‍♂️

According to Bloomberg’s James Seyffart (yeah, I know, another Bloomberg guy), Canary Capital/Marinade, Franklin Templeton, and VanEck were first in line to file their updated forms. Then, like a bad sequel, Grayscale, 21Shares, Bitwise, Fidelity, and CoinShares jumped on the bandwagon. 🚂 Because nothing says “innovation” like everyone doing the same thing.

Seyffart says these filings are a “strong sign” of approval. Sure, Jan. 🙄 Meanwhile, Eric Balchunas calls it a “virtual lock.” Okay, Eric, let’s not get ahead of ourselves. Last time I checked, the SEC loves a good plot twist. 🍿

Oh, and Rex Shares is turning their Solana ETF into a Registered Investment Company (RIC). Why? To avoid tax inefficiencies. Because nothing screams “crypto” like caring about taxes. 🤓 But hey, it’ll make them more competitive in the “coming tsunami” of Solana ETFs. Tsunami? More like a kiddie pool. 🌊

And let’s not forget XRP, Dogecoin, Cardano, Litecoin, Sei, and Avalanche. Everyone wants in on the ETF party. 🎈 Approvals are supposedly coming in October. Mark your calendars, folks. Or don’t. I’m not your mom. 👩‍💻

If these ETFs take off like Bitcoin and Ethereum, altcoins might finally have their moment. Or they might crash and burn. It’s crypto-who knows? 🎢

$180: Solana’s Make-or-Break Moment 💔💪

Meanwhile, Glassnode says $180 is the magic number for Solana. 🧙‍♂️ Apparently, 18.56 million SOL (worth $4 billion) is sitting there, waiting for something to happen. Investors are either geniuses or just really stubborn. 🤔

At the time of writing, Solana’s at $204 after a 3.84% dip. But hey, it’s up 3.63% weekly. So, you know, mixed signals. Just like my dating life. 💔

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2025-08-30 13:35