The cryptocurrency industry has gotten visibly busier over the past two years. While several are still exploring exchange-traded fund (ETF) opportunities a few others are awaiting better norms for the market. The recent change in the US government comes as a major advantage for the industry. Banking on the same, an array of firms were seen taking their chance with ETFs. In a recent development, to establish a spot Solana ETF in the United States this year, four asset managers have resubmitted their paperwork to the Cboe BZX Exchange. Amidst this, the community was betting on the price growth of SOL during the coming month.
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Solana Makes Slow Yet Steady Progress
Solana started 2025 on a rather slow note but managed to pick up pace along the way. Just ten days ago, the prominent altcoin recorded a massive rise and reached an all-time high of $294. The asset is currently 20% below this mark.
After its recent uptick, Solana was seen recording a slump. The asset went from trading at $268 earlier this week to a low of $226 in no time. During the time of writing, SOL was trading at $233.81 following a 2.92% rise over the past 24 hours.
Cboe BZX’s new filing strengthened the possibility of SOL reaching a new high soon. The Securities and Exchange Commission reportedly denied the applications late last year, so on January 28 the exchange refiled 19b-4 paperwork for spot Solana SOL $230.97 ETFs from Bitwise, VanEck, 21Shares, and Canary Capital. Under the new, more crypto-friendly acting head of the SEC, Mark Uyeda, the updated filings restart the review process.
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February Prediction
According to data from CoinCodex, the chances of SOL reaching a new peak or reclaiming its current one were bleak. The altcoin is slated to trade at a maximum price of $250 during February. The asset will only rise 6.71% from its current price mark. It should, however, be noted that the rest of the year is expected to be bullish for SOL.
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