Solana Experiences Significant Price Drop Prior to ETF Launch
Finance/Markets

Solana Experiences Significant Price Drop Prior to ETF Launch

SOL falls nearly 8% ahead of the launch of the first U.S.-based SOL Staking ETF despite increased institutional interest.

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Key Information

  • SOL declined by 7.84% in the last 24 hours, reaching a low of $145.08 at 20:03 UTC.
  • The REX-Osprey SOL + Staking ETF is set to launch on July 2, enabling U.S. investors to earn staking yields under the 1940 Act.
  • Even with institutional support, SOL is facing selling pressure, suggesting cautious market sentiment ahead of this launch.

SOL trades lower despite ETF launch set for July 2, hitting intraday low of $145.08

The price of Solana (SOL) has dropped significantly, down 7.84% yesterday, likely influenced by broader market trends despite an upcoming significant ETF launch. Investors are watching closely, as the ETF is expected to offer utility and potentially more stability in the market.

This ETF launch could be a pivotal moment for Solana, emphasizing its position within the U.S. financial landscape.

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