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First Solana (SOL) Staking ETF Set to Launch This Week; Crypto ETF Approval Odds for XRP, DOGE Jump to 90% | Flash News Detail | Blockchain.News
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6/30/2025 7:40:20 PM

First Solana (SOL) Staking ETF Set to Launch This Week; Crypto ETF Approval Odds for XRP, DOGE Jump to 90%

First Solana (SOL) Staking ETF Set to Launch This Week; Crypto ETF Approval Odds for XRP, DOGE Jump to 90%

According to @KookCapitalLLC, Solana (SOL) experienced a 5% price surge to around $157 on news that the REX-Osprey SOL+Staking ETF is set to launch this week, with a spokesperson for Osprey confirming a Wednesday launch. The price later corrected to approximately $155. This development follows positive engagement signals from the SEC with asset manager Rex Shares. In related news, Bloomberg analysts James Seyffart and Eric Balchunas have increased their approval odds for most spot crypto ETF filings, including those for Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA), to 90% or higher. This growing optimism is also reflected in prediction markets, where Polymarket bettors assign a 98% chance for an XRP ETF approval and a 91% chance for a SOL ETF to get the green light this year, viewing the SEC's active dialogue with issuers as a strong positive indicator for the broader digital asset market.

Source

Analysis

Solana ETF Buzz Ignites Market as Broader Altcoin ETF Hopes Surge


The cryptocurrency market saw a significant jolt of optimism on Monday, primarily centered around Solana (SOL), as news of the first-ever Solana-based exchange-traded fund (ETF) in the United States prepares to launch this week. Solana's price reacted immediately and sharply to the developments, jumping nearly 5% in early trading to a high of approximately $159. The SOLUSDT pair reached a 24-hour peak of $159.88 before experiencing a slight retracement. At the time of writing, SOL is trading around $155.28, maintaining a respectable 24-hour gain of over 2%. This price action was fueled by confirmation from a spokesperson at Osprey Funds that their joint product with Rex Shares, the REX-Osprey SOL+Staking ETF, is slated to begin trading on Wednesday. This follows a crucial filing update last week where Rex Shares indicated the U.S. Securities and Exchange Commission (SEC) had no further comments, a strong procedural signal that clearance was imminent. The trading volume for SOL has been robust, with the SOLUSDT pair seeing over 4,770 SOL traded and the SOL/BTC pair showing significant activity, highlighting strong trader interest in the asset's relative performance.



Unpacking the SOL+Staking ETF and Relative Strength


This upcoming launch is a landmark event, not just for Solana but for the broader digital asset investment landscape. Crucially, this is a futures-based ETF that also incorporates staking rewards, offering investors exposure to both SOL's price movements and the yield generated from securing the Solana network. This hybrid model could set a precedent for future crypto products. While the market eagerly awaits a true spot SOL ETF, this product serves as a vital bridge, potentially attracting a new wave of institutional and retail capital that prefers regulated investment vehicles. From a trading perspective, Solana’s outperformance is clear when analyzing its cross-pairs. The SOLBTC pair surged an impressive 3.63% to 0.00144770 BTC, indicating that SOL is gaining significant ground against the market's benchmark cryptocurrency. Similarly, the SOLETH pair climbed 2.59% to 0.068000 ETH, showing strength against its primary layer-1 competitor. This relative strength is a bullish signal for traders, suggesting that capital is rotating into Solana specifically on the back of this ETF news, rather than just as part of a general market updraft. The key resistance level for SOL now sits squarely at the recent high around $160, while the 24-hour low of $149.70 provides a clear area of initial support.



Widespread ETF Optimism Lifts Altcoin Sentiment


The positive sentiment is not confined to Solana. According to influential Bloomberg analysts James Seyffart and Eric Balchunas, the odds for SEC approval of a wide range of spot crypto ETFs have dramatically increased. The analysts have raised their approval probability to 90% or higher for the majority of pending applications, citing constructive engagement from the SEC as a primary reason. This back-and-forth process of S-1 amendments and comments is now viewed as a sign of cooperation rather than obstruction. This wave of optimism extends to major assets including XRP, Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA). The shifting regulatory tide suggests a potential floodgate of new investment products could hit the U.S. market, fundamentally altering the accessibility and perceived legitimacy of these altcoins. This sentiment is echoed on prediction markets like Polymarket, where bettors are assigning a 98% chance of an XRP ETF approval this year and a 91% chance for a spot SOL ETF, demonstrating high market conviction.



Trading Landscape for XRP, LTC, and ADA


The ETF hype is creating distinct trading patterns across different altcoins. XRP has responded positively, with the XRPUSDT pair rising 1.61% to trade at $2.245. It tested a 24-hour high of $2.3257 on significant volume of over 693,000 USDT, indicating strong buying pressure fueled by the high approval odds. In contrast, Litecoin (LTC) has not yet caught the same bid, with LTCUSDT down 2.28% to $86.29 and trading near its daily low of $84.81. This divergence could present a potential lagging play for traders betting that positive ETF sentiment will eventually spill over into LTC. Meanwhile, Cardano (ADA) is demonstrating consolidation. The ADAUSDT pair is trading relatively flat at $0.5747 within a tight range between $0.5900 and $0.5560. However, its high trading volume of over 719,000 USDT suggests accumulation may be occurring. Notably, the ADAETH pair is up 1.83%, indicating it is holding its value better than Ether, a subtle sign of underlying strength. For traders, the current environment demands a nuanced approach, watching for breakouts in assets like XRP and potential reversals in laggards like LTC as the ETF narrative continues to dominate market psychology.

kook

@KookCapitalLLC

Retired crypto hunter seeking 1000x gems through BullX strategies

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