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European asset manager CoinShares has filed for a Solana exchange-traded fund (ETF), joining a wave of firms seeking regulatory approval for altcoin-based investment products. The move follows revised applications from seven issuers aiming to stake SOL, signaling growing institutional interest in crypto-focused funds.
- CoinShares joins seven other issuers in filing for a Solana ETF, with proposals allowing staking of held SOL.
- Bloomberg analysts estimate a 70% chance of Solana ETF approval in 2024, following Bitcoin and Ethereum ETF successes.
- SOL's price rose 4% to $156.87, with institutional interest growing due to Solana's efficiency in decentralized apps.
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