Despite many geopolitical concerns and economic frailty, the cryptocurrency market discovered its foothold this week. Among the assets that placed themselves in a large position in April is Solana after Sol ETF took a massive step as Solna finished the week.
It’s about what assets all eyes can work together since both Bitcoin and Ethereum ETFs were approved in 2024. Solana then emerged as a favorite, and cryptocurrency gained a great momentum in the impending investment vehicle.
SolanaETF takes an important step with token rebound to start April
2025 has been a troubling month for many cryptocurrencies and traditional financial markets. According to Coinmarketcap, Solana fell by more than 35% last year. Additionally, the first week of April has finished over 15% in the last 30 days.
But I ended the first week of the month and looked forward to it, so I reversed that trend. Specifically, Solana said that potential Solana had taken a major step forward on Friday as she closed with a 6% increase in the week. In fact, the asset could be set up to be the third crypto-based ETF for approval from the US Securities and Exchange Commission (SEC).
Cryptocurrency Asset Manager Grayscale filed a registration statement with the Solana Trust (GSOL) on Friday. In fact, they are trying to turn their trust into an ETF of NYSE Arca. Furthermore, the decision follows the Solana Trust submission of 19B-4 last December.
Asset Managers took the same approach when issuing Bitcoin and Ethereum ETFs. Additionally, the investment vehicle has pushed an increasingly bullish attitude towards Sol’s outlook this year. Cryptocurrency price prediction platform Concodex predicts it to reach $134 this month, up 9% from its current position.
But they hope that things will get even better for the token as the year progresses. Specifically, in September, the token was projected to jump by over 144%, reaching its 2025 high of $291.
(TagStoTRASSLATE) Cryptocurrency (T) Solana
