Analysts have increased the likelihood of approval for a Spot Ether ETF from 25% to 75%, with expectations that the US Securities & Exchange Commission might greenlight two applications by the week's end. If approved, Ether ETF products would become the market's second offering, following only the Spot Bitcoin ETF.

While this development is eagerly anticipated, there is also growing discussion about the possibility of a Spot Solana ETF entering the market.

While not everyone is fully on board, SOL holders and enthusiasts remain hopeful that such an ETF could materialize and benefit them. However, Solana faces two significant hurdles. Firstly, SOL lacks a futures ETF, which could lengthen the approval process for a Spot ETF. Secondly, the Commission categorizes SOL as a security rather than a commodity, adding another layer of complexity to the prospect of a SOL ETF in the near future. Overall, these challenges could potentially delay the introduction of a SOL ETF.

Some opposition to the idea exists as well. Hunter Horsley, CEO of Bitwise Investment, argues against the necessity of introducing a separate crypto ETF, noting that their 10 Crypto Index Fund already provides exposure to various leading cryptocurrencies, including Bitcoin, Solana, and Ethereum.

Bitcoin, currently valued at $69,576.33, has seen a slight decrease of 0.48% in the last 24 hours. It is approaching the $70,000 mark and is expected to surpass $84,000 in the coming months, potentially paving the way for a $100,000 milestone by year-end.

Similarly, Ethereum's price has gained momentum amidst speculation about ETF approvals, currently trading at $3,809.10, up 2.055% in the last 24 hours and 26.86% in the last 7 days. It is anticipated to test resistance at $3,900 before aiming for a new high above $4,000.

Conversely, SOL has experienced a retracement to $176.31, with a decrease of 1.955% in the last 24 hours. Despite earlier expectations of approaching $180, the current trend indicates a reversal, albeit surprising given the market's general uptick. Nevertheless, Solana is predicted to undergo a correction phase in preparation for a rebound, with expectations of surpassing $200 by year-end, 2024.