NewsBTC

17 June 2025

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Solana ETF Approvals Expected as Total Value Locked Exceeds $8B

Analysts from Cantor Fitzgerald indicate strong momentum for Solana, with expectations of a Solana ETF on the horizon. Key developments include:

• DeFi Development, Upexi, and SOL Strategies plan to raise $250M each for crypto initiatives, including $SOL treasuries.
• Solana’s Total Value Locked (TVL) has exceeded $8B, reflecting a robust developer ecosystem.
• CoinShares has filed for a spot Solana ETF, addressing SEC concerns over redemption and staking.
• Approval of new $SOL ETFs is anticipated by late summer or early fall 2025.

Investor implications include:

• $SOL gaining mainstream appeal as a yield-generating asset due to its staking model.
• Potential lower barriers to $SOL exposure via traditional brokerage if ETFs are approved.
• Continued interest in treasury strategies could further propel $SOL's value amid market volatility risks.

Meanwhile, Solaxy, Solana's first Layer-2 chain, raised $53.9M in its presale, with an additional $2M following post-presale. The project aims for multichain functionality and will launch its Token Claim on June 23.

Despite growing institutional interest, Solana's price remains subdued compared to Bitcoin, raising questions about future price movements for both $SOL and $SOLX.