I would like to know your opinion on this issue:1. I have a small amount of SOL, probably just enough to cover transaction fees when investing in other tokens within the Solana ecosystem. Unfortunately, I didn't benefit from SOL impressive price increase from $10 to $200.
- Do you own SOL in your balance?
- Do you think that spot SOL ETFs in Brazil will drive SOL price up?
- Besides spot SOL ETFs, what are the main drivers for SOL price growth?
The rejection of Spot SOL ETFs in the US has disappointed many SOL investors [1], and BlackRock has also ruled out the possibility of launching spot ETFs for other altcoins in the market soon as they want to focus on spot BTC & ETH ETFs [2].I think most investors understand it, they won't be very disappointed. The rejection doesn't mean to remove the chance of SOL be accepted in ETF spot someday. It is normal if an altcoin is difficult to be accepted, even ETH wasn't easy to be accepted in ETF spot. SEC may want to focus on BTC and ETH first, they may consider SOL and other altcoins later.
Good news has just arrived for Solana fans: spot SOL ETFs [3, 4] have been approved in Brazil, a country that has become crypto-friendly in an effort to protect its economy from high regional inflation [5].This is good news for SOL holders. I think this should trigger the increase of SOL price. It may also be a reason for SEC to consider again the approval of SOL ETF spot in the future. Brazil is a more friendly with crypto, it makes sense if they aren't difficult to accept SOL ETF spot there.
I think most investors understand it, they won't be very disappointed. The rejection doesn't mean to remove the chance of SOL be accepted in ETF spot someday. It is normal if an altcoin is difficult to be accepted, even ETH wasn't easy to be accepted in ETF spot. SEC may want to focus on BTC and ETH first, they may consider SOL and other altcoins later.The reality is that both BTC and ETH had futures ETFs prior to spot ETFs being approved, and it was only after major funds officially entered this market that spot ETFs were passed. SOL has not yet met these favorable conditions. I hope all SOL holders understand this and continue to expect growth from Solana and the SOL price in the future.
This is good news for SOL holders. I think this should trigger the increase of SOL price. It may also be a reason for SEC to consider again the approval of SOL ETF spot in the future. Brazil is a more friendly with crypto, it makes sense if they aren't difficult to accept SOL ETF spot there.
SOL has not yet met these favorable conditions. I hope all SOL holders understand this and continue to expect growth from Solana and the SOL price in the future.SOL may not fit with the condition but it doesn't mean to have no chance to be approved. I think there is still chance to be approved in the future. Sure, all SOL holders understand it, they won't think about it too much. SOL price still grows well, investors mostly only focus on the price. ;D
I believe a spot SOL ETF in the US is a long-term goal we can strive for. In the meantime, the launch of spot SOL ETFs in other countries is a positive development for Solana. When Solana truly matures and has a strong position in the crypto market like Ether, we will have a spot SOL ETF in the US to receive a stable inflow from pension funds and investment funds.I also believe it, SOL will be approved someday. When it is approved, there should be a big hype on SOL. It is good for the development of SOL in the future. But everyone must be patient, it should take time and progress. ;)
SOL may not fit with the condition but it doesn't mean to have no chance to be approved. I think there is still chance to be approved in the future. Sure, all SOL holders understand it, they won't think about it too much. SOL price still grows well, investors mostly only focus on the price. ;DCurrently, several ETF funds have proposed ETFs for XRP, LTC, and SOL. This indicates that while BlackRock might be primarily interested in BTC and ETH ETFs, other funds are taking a broader approach. They're still pursuing crypto-based ETF products to enhance their clients' asset management revenue.
I also believe it, SOL will be approved someday. When it is approved, there should be a big hype on SOL. It is good for the development of SOL in the future. But everyone must be patient, it should take time and progress. ;)
I didn’t know that the impact of the Brazil market is up to 15bn now. Since there are a lot of people there, I guess it could help retain the price at a good level and then wait for other businesses or countries that would support the ETF.
Personality, I have SOL. Some also staked.
I didn’t know that the impact of the Brazil market is up to 15bn now. Since there are a lot of people there, I guess it could help retain the price at a good level and then wait for other businesses or countries that would support the ETF.While the Brazilian crypto market may not be as prominent, the presence of a spot SOL ETF there is a positive indicator. It signifies that SOL has gained recognition and value in another country, preceding potential US approval for a spot SOL ETF.
Personality, I have SOL. Some also staked.
I think the listing on the B3 (Brazilian Stock Exchange) will take place on August 29thI think that you could express your best opinion in this post. So i am also agree with your comment. We also saw that brazilian stock exchange could approved SOL in cryptocurrency market. So i am also believe that it will be best opportunity for sol. We also believe that next time sol also achieve best popularity in cryptocurrency market. Because if we follow in cryptocurrency market, we can see that sol price is increase day by day. So i believe that within a short time sol price could be best popularity in cryptocurrency world.
While the BTC ETFs have moved the market a lot, with Grayscale's sales and BlackRock's purchases, the ETH ETFs don't seem to have had that much effect on the price, so I have my doubts about the potential for Solana's ETF to rise in Brazil, given that Brazil isn't such a big market
It's an example that can be followed and it may only be a matter of time before it's approved in the United States, where it's a market that can inject a lot of money
But I also have an opinion that the rumors of a possible approval may help the price of SOL to rise, but due to speculation rather than the fact of the ETF itself
I think that you could express your best opinion in this post. So i am also agree with your comment. We also saw that brazilian stock exchange could approved SOL in cryptocurrency market. So i am also believe that it will be best opportunity for sol. We also believe that next time sol also achieve best popularity in cryptocurrency market. Because if we follow in cryptocurrency market, we can see that sol price is increase day by day. So i believe that within a short time sol price could be best popularity in cryptocurrency world.The approval of a spot SOL ETF in Brazil is great news for SOL, even though Brazil isn't typically known as a crypto powerhouse or on the radar of most crypto investors. We tend to focus more on the US spot SOL ETF as it could potentially open the doors for SOL to receive inflows from traditional investors and pension funds.
If anyone wants to check it out, these are today's data from the SOL ETF in Brazil, the ticker is QSOL11Thanks for the update. I tried looking for the exact amount of money that's flowed into QSOL11 but couldn't find specific data. Price and trading volume alone can't give us that figure, so it's hard to gauge QSOL11's success.
(https://i.ibb.co/y6C3wZd/sol.png) (https://ibb.co/hBNqP4L)
Source (https://br.advfn.com/bolsa-de-valores/bovespa/qr-solana-QSOL11/cotacao)
The prices are in brazilian reais R$
Thanks for the update. I tried looking for the exact amount of money that's flowed into QSOL11 but couldn't find specific data. Price and trading volume alone can't give us that figure, so it's hard to gauge QSOL11's success.
Unfortunately, there doesn't seem to be as much investor interest in QSOL11 compared to US spot BTC and ETH ETFs. It looks like SOL still needs a US spot ETF to attract traditional investors and have a more successful uptrend.
In my opinion, Brazilians who want exposure to Solana buy the coin directly and not through ETFs, which would be more interesting for institutional investors.I'm not entirely clear on Brazil's investment regulations. If large funds can easily purchase SOL directly and are comfortable working with blockchains, they might not need to access a spot SOL ETF. This contrasts with US regulations where pension funds are limited in the assets they can hold and don't want to self-custody private keys, so a spot ETF is the only way for them to invest in crypto.
And in Brazil it's very different from the US, the volume here is much smaller
What information would you like to know? I can look it up for you here
I'm not entirely clear on Brazil's investment regulations. If large funds can easily purchase SOL directly and are comfortable working with blockchains, they might not need to access a spot SOL ETF. This contrasts with US regulations where pension funds are limited in the assets they can hold and don't want to self-custody private keys, so a spot ETF is the only way for them to invest in crypto.
If possible, could you share the total value of SOL held in QSOL11? This is the most crucial figure to gauge investor interest in this product while trading volume doesn't accurately reflect this.
To be honest, I'm also unclear about the institutional investment rules for cryptos in BrazilThank you so much for this information +. We now have concrete data to assess the success level of the spot SOL ETF.
When it's a company, it's a bit different then for retail
I managed to find the total investments in the ETF, take a look:
(https://i.ibb.co/wMg2fmJ/SOL-ETF.png) (https://ibb.co/NZCGMB1)
Source: https://qrasset.com.br/qsol11/
33,32 millions of brazilian reais is something like 5,77 million USD
What do you think? Expected more?
...Thank you so much for this information +. We now have concrete data to assess the success level of the spot SOL ETF.
5.8M USD over 3 months is not a large amount, which is equivalent to buying 30K SOL and no longer creating selling pressure on the market. This amount is actually quite small but is also a good sign that this product has potential customers to target. I hope that if the spot SOL ETF is approved in the US, the inflow of funds will be larger, for example, 100 times compared to this product in Brazil.
You're welcome ;)It's tough to say if the amount of SOL in the Brazilian spot SOL ETF has created enough buying pressure to boost SOL's price globally. Maybe 30K SOL isn't enough to soak up all the sell-offs on OTC markets. But let's look at the positive psychological impact. It could boost investor expectations for a US spot SOL ETF in the future, maybe even this season!
It's a good amount of money, but considering the whole market, it's not a huge mark, maybe with this spikes in price, could bring more money into
I'm sure if they launch in US, 100x is a good estimate to start, and US being the main market, atracts more attention and more speculation, possible making SOL rise even more
Even equipped with the victory of Trump which made the price of Bitcoin soar very quickly, then it was also followed by altcoins, especially top coins. It is not surprising that the price of SOL also soared very quickly. Even now it is at a rate of $ 210. Indeed, it has not reached the previous ATH, but if we look at the price, it has grown very rapidly. Not only that, it turns out that the market cap of Solana has also flown past BNB, now Solana is in 4th position in the coin market cap. This is surprising, but it makes sense. Because Solana is indeed a project that good with very significant and ongoing developmentMany projects aspire to achieve the same success as Sol, with its vibrant ecosystem, community attention, and the meteoric rise of its native token SOL from 10 USD to 200 USD. However, most projects in this market cannot replicate this feat and remain at their bottom, or even continue to make new lows as investors sell weak altcoins to focus on investing in BTC.
... I will still wait for the launch of the spot SOL ETF in the US next year for SOL to have the momentum to increase in price and directly threaten Ether's position.
Usually new projects only focus on promoting names involving projects like Solana, and they often make statements like "the next Solana" and the like that make it seem like they will be like Solana and invite newcomers to follow them........the market cap of Solana has also flown past BNB, now Solana is in 4th position in the coin market cap. This is surprising, but it makes sense. Because Solana is indeed a project that good with very significant and ongoing developmentMany projects aspire to achieve the same success as Sol, with its vibrant ecosystem, community attention, and the meteoric rise of its native token SOL from 10 USD to 200 USD. However, most projects in this market cannot replicate this feat and remain at their bottom, or even continue to make new lows as investors sell weak altcoins to focus on investing in BTC.
As far as I know, VanEck is trying to launch the first Solana ETF in USSome smaller funds are trying to get a spot SOL ETF approved in the US. I hope their actions and SOL's success will change the minds of larger funds like BlackRock and Fidelity. The success of a spot ETH ETF is also crucial to confirm traditional investors' demand for investing in altcoins, after which other spot ETFs can be proposed and approved.
If it's approved, it could help Solana's price a little, and depending on the moment, it could even be more eye-catching than the ETH ETFs that weren't as good as the BTC one
SOL's momentum is very good, which makes me wonder what price level it could be at today if it weren't for FTX