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Strong Start for Solana’s Staking ETF Fuels Spot ETF Speculation
Solana’s first staking ETF, SSK, has got off to a remarkable start, debuting with an impressive $12 million in net inflows and $33 million in trading volume. This exceptional performance is likely to fuel speculation surrounding upcoming spot Solana ETFs from industry giants like Franklin Templeton, Bitwise, and VanEck.
The staking ETF’s success has sparked renewed conversations about the timeline for regulatory approvals of pure spot Solana ETFs. Analysts are now assigning a staggering 95% probability of approval by the end of the year. This would have a seismic impact on the market, similar to that seen in Bitcoin and Ethereum spot ETFs earlier this cycle.
SOL’s price surged an astonishing 4% after the launch, reaching approximately $154 per coin. Technical indicators are now flashing growing bullish momentum, indicating a potential upward trajectory. The next resistance level is expected to be around $160, where profit-taking might slow down gains. If buyers can push through this barrier, analysts predict a subsequent target near $184.
Solana’s debut staking ETF has set the tone for its peers in the space. With SSK having exceeded even the most optimistic projections, it appears that regulatory hurdles are finally being overcome.
Source: crypto-economy.com
