Solana Gains Traction as Institutional Investors Eye Spot ETFs

Institutional investment is driving increased attention towards Solana (SOL) as the cryptocurrency market awaits developments regarding potential spot exchange-traded funds (ETFs). Market analyst Inmortal highlights that the growing momentum surrounding Solana ETF applications could boost SOL’s valuation, signaling the significant role of institutional investors in shaping market trends. Grayscale, VanEck, 21Shares, Canary, and Franklin Templeton have all submitted applications to the U.S. Securities and Exchange Commission for Solana ETF approval, indicating robust demand.