Last night, REX-OSPREY CEO announced the launch of a Solana ETF supporting staking, planned to start trading on Wednesday, with $SOL approaching $160. However, the market later clarified that this is not a true spot ETF, causing SOL to quickly fall back and narrow its gains. After the good news fell through, what's next for SOL? Let's see what analysts in the Followin trading strategy square think?
📉 @DaanCrypto
$SOL has rebounded well recently, but the short-term trend has not yet reversed. The daily 200 MA/EMA resistance zone is at $159-$167, and if it can stabilize, it may have a chance to challenge the $180-$200 range. Whether the ETF can stimulate fund inflows still needs to be observed.
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📊 @ColdBloodShill
The current trend looks like a "false breakdown", and the weekly line successfully retested support. Stable in the short term.
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Chuan Mu@xiaomucrypto
Sol's ETF is very likely to be approved soon. $DFDV is the Solana ecosystem version of "MicroStrategy", holding 50-60,000 SOL and having up to $5 billion in financing. The current price range is an ideal buying point.
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Phyrex@Phyrex_Ni
Note that what was approved is the REX-Osprey Solana Staking ETF, not a true SOL spot ETF.
The difference is that the Staking ETF essentially means "legally holding and staking SOL", more like a trust product from the Grayscale era, with far less liquidity and valuation transparency than a spot ETF. It can be seen as a transitional solution before the arrival of a spot ETF.
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Although this SOL spot ETF fell through, as Nate Geraci, president of The ETF Store, said: "The U.S. Securities and Exchange Commission (SEC) will face the final approval deadline this week for the Grayscale Digital Large Cap ETF (GDLC), which holds BTC, ETH, XRP, SOL, and ADA. The possibility of approval is high. Once approved, subsequent approvals for spot ETFs for single assets such as XRP, SOL, ADA, etc., may follow."
Approval of the SOL spot ETF is just a matter of time.
