Compass Investments

– Main: Solana is well positioned to lead the way for cryptocurrency ETFs to be approved by the SEC, staking integration is being discussed.

large-scale crypto-index ETFs are expected to receive the SEC’s decision on July 2, there is a high probability of approval.

The MACD and RSI indicators show that Solana is gaining momentum, suggesting a likely continuation of the short-term price rise.

Bloomberg ETF analysts believe that the U.S. Securities and Exchange Commission (SEC) may begin approving altcoin-based exchange-traded funds (ETFs) as early as next month. According to Eric Balchunas at X, his colleague James Seyffarth of Bloomberg said ETFs tracking common crypto indices could get approval by early July.

A number of issuers, including Grayscale and Bitwise, have already filed applications with the SEC for ETFs offering broad exposure to digital assets. The SEC has until July 2 to respond to those filings. Bloomberg Intelligence estimates the probability of approval for the Solana and Litecoin ETFs at 90% , and the XRP ETF at 85% .

Solana-based ETFs could be among the first to get approval if the SEC starts approving altcoin funds. Balchunas wrote that a summer of altcoin ETFs is gearing up, and Solana is likely to be at the top of the list. This comes amid reports that the SEC is in talks with issuers to update documents for Solana ETFs.

Early discussions between ETF applicants and the SEC are focused on the technical aspects of incorporating Solana steaking into the fund’s structure.

Discussions are underway regarding the nuances of utilizing Solana Stacking in the ETF, he said.

At the same time, the SEC has yet to make a final decision and may issue a ruling on Solana steaking and Solana-based products later this year.

the SEC is also considering applications to create ETFs related to assets such as XRP, Solana and Ethereum shaking products. While there is no timeline for their review, Bloomberg analysts note that decisions could be made before the end of the year. Some issuers are trying to speed up the process by using legal approaches.

On June 11, Nate Geraci, president of ETF Store, noted that the SEC is preparing to open the floodgates for cryptocurrency ETFs, calling it the final step before broader access to cryptocurrency spot trading through brokers.

Solana (SOL) is trading at $166.15 at the time of publication, with technical indicators pointing to short-term upward momentum. The MACD indicator recently showed a bullish crossover, indicating renewed buying interest. The histogram has moved into the positive area, confirming the possibility of further growth.