It’s the 55th edition of The Gems Corner, and today we will be looking at the Solana ETFs, bullish signs, and other alphas, as usual.
This year, we’ve had two digital asset ETF approvals - Bitcoin and Ethereum. In retrospect, it seems ‘impossible’ with the SEC and Gary fighting hard against them. Bitcoin ETF paved the way for Ethereum, and now Solana is next in line.
VanEck recently filed for the first Solana exchange-traded fund (ETF). In their statement, Solana functions similarly to other digital commodities like BTC and ETF, has several utilities, and can be traded on digital assets platforms or used in peer-to-peer transactions. Therefore, it should have a ETF.
Interestingly, 21 Shares filed for Solana ETF hours a day after VanEck submitted. With these two filings, it’s only a matter of time before other competitors join suit. That said, GSR, an investment firm, stated in its recent research report that Solana ETF has a high likelihood of being approved based on its decentralization and demand scores.
These scores measure how decentralized the blockchain is, and the potential demand of the token based on its utilities - which SOL easily ticks the boxes. Solana ETF is imminent, it is only a matter of when.
Aside from the ETF filings, Solana has been gaining some serious traction lately - from the number of daily transactions to active addresses to tokens deployed. I’m expecting some positive price reactions on SOL and other strong SOL tokens in the coming months - stay positioned friend.
Image of the day!
Grayscale published a list of 20 high-potential assets on their watchlist for Q3 2024 based on trending catalysts, adoption trends, and low or moderate token supply. If you’re looking for safe bets, these tokens are a must-watch.
Alpha Bites and Tweets
Mint Uniswap NFT on Zora Network - link
Union Testnet Galxe Task (Airdrop potential) - link
Claim your Blast airdrop - link
That’s a wrap.
Thanks for reading!
Viktor DeFi.
PS: I’d love to hear your feedback and comments.