ARK Invest Files for Spot ETF Amid Solana’s Rising Popularity

ARK Invest, led by Cathie Woods, Files for Spot ETF

ARK 21Shares, a collaboration between 21Shares and Ark Invest, has filed for a Spot ETF. This move comes shortly after VanEck surprised the crypto community by announcing its filing for a Solana Spot ETF, becoming the first to do so. The competitive industry sees players ready to jump on new opportunities, and ARK 21Shares, which already offers a Bitcoin ETF, is following suit.

Solana’s Growing Popularity

Despite uncertainty surrounding the approval of an Ethereum ETF, the industry’s attention has shifted to the next major development. Following Bitcoin and Ethereum, Solana is gaining significant attention, driven by the SOL memecoins that are generating new excitement in the market. Solana's lower cost and easier trading compared to Bitcoin and Ethereum are major factors fueling the interest in this altcoin.

VanEck Files for First U.S. Solana ETF

VanEck’s filing for a Solana Spot ETF led to a 15% increase in Solana’s price, rising from $136 to $150. With other institutions now showing interest, Solana is likely to see a bullish trend. Over the past year, Solana has surged by an impressive 776%, compared to Bitcoin’s 99% and Ethereum’s 89% growth.

Analysts predict that if the ETFs are approved, Solana’s price could reach around $1300. With strong community support, impressive past performance, and the ongoing SOL memecoin trend, this prediction seems plausible.