The first US Stacked Cryptocurrency Exchange-Tradeded Fund (ETF) will be launched on Wednesday, which will allow investors to be organized (Fifth note of musical scale) And earn yield through stating.
Two days later Coincidence report Rex-Ospre Solana and Steaking ETFs can launch adjacently, the issuer Rex shares confirmed on Monday that the funds were scheduled to debut.
As the name suggests, the Rex -Sprey Fund will give investors directly exposure to the spot soul with staking income, potentially paving the way for the wide institutional institutional institutional institutional institutional of the crypto.
The launch follows its unique C-Cor business structure from the US Securities and Exchange Commission (SEC) updated the updated prospectus and positive response-a system that the regulator had earlier made controversial arguments with the so-called ETF rule.
Sec ruled in May This stacking does not violate securities laws, but still decided to push its decision on stacked ETFs and other Altcoin funds.
Connected: Coinbase wants SEC approval for ‘token equity’ – Report
Soul Value expands rally
Soon after the ETF news, the price of Solana rose to 6% to about $ 158. With this advantage, Soul is now more than 12% in the last seven days.
Despite the rally, Soul is 46% below its all -time high since January, according to this Coingko data.
At its current price, Solan’s market capitalization is $ 83.5 billion, making it the sixth largest cryptocurrency.
Some analysts have speculated that Solana ETF may be approved Spark a “altcoin heat” Fuel was given by the new Altcoin-focused funds.
Bloomberg’s senior ETF analyst Eric Balchunas mentioned in June that many such funds were on tracks till July, which is likely to “move forward.”
Solana has also gained momentum in the decentralized exchange (DEX) market, with it Dex Volume recently crosses those people of EthariumAccording to cointelegraph and tradingView data, Raydium, pump.fun and Orca are the major contributors in this boom.
Connected: The US Crypto ETF approval increases by obstacles ‘90% or higher’ – Bloomberg Analyst
