Solana Price Prediction: 3iQ Files For First Solana ETF In North America As Traders Rush To buy This SOL Meme Coin Before It’s Too late

The
Solana
price
is
down
3%
in
the
past
24
hours
to
trade
for
$132.63
as
of
02:36
a.m.
EST.

The
fall
came
despite
news
that
digital
asset
manager
3iQ
has
filed
for
a
Solana
ETF
(exchange-traded
fund)
to
be
listed
on
the
Toronto
Stock
Exchange
(TSE)
in
Canada.

If
approved,
it
would
mark
the
first
of
these
SOL-inspired
financial
instruments
in
North
America.

3iQ
Corp.
is
pleased
to
announce
that
we
have
submitted
a
preliminary
prospectus
for
The
Solana
Fund
(QSOL)
in
Canada
in
relation
to
an
initial
public
offering.

This
continues
our
track
record
of
innovation,
and
if
receipt
of
applicable
regulatory
approvals
is
obtained,
the…

pic.twitter.com/7ghv05f8gU

—
3iQ
Digital
Asset
Management
(@3iq_corp)

June
20,
2024

An
approval
would
also
see
3iQ’s
Solana
ETF
holders
accrue
interest
from
native
SOL
staking
yields.

According
to
the
firm,
these
yields
would
come
in
at
around
6%
to
8%.
The
filing
proposes
that
the
ETF’s
custodians
will
be
Coinbase
Custody
and
Tetra
Trust,
with
the
former
providing
exclusive
institutional
staking
infrastructure
for
the
Solana
fund.

Based
on
Yahoo
Finance
data,
the
two
main
cryptocurrency
products
listed
on
the
TSE
by
the
digital
asset
manager
are
3iQ
Bitcoin
ETF
(BTCQ)
and
3iQ
Ether
Staking
ETF
(ETHQ).
These
are
valued
at
about
$233
million
and
$38.7
million
in
net
assets,
respectively.

Bloomberg
analyst
James
Seyffart
observed
that
more
than
$1
billion
worth
of
Solana
ETFs
are
already
offered
around
the
world.
Among
them,
the
21Shares
Solana
Staking
ETP
(exchange-traded
product)
and
the
ETC
Group
Physical
Solana
product
in
Europe.

You
guys
would
be
stunned
to
realize
we
already
have
over
$1
Billion
in
Solana
ETPs
elsewhere
in
the
world!!

pic.twitter.com/y3zSZrHJGo

—
James
Seyffart
(@JSeyff)

June
20,
2024

Solana
Price
Prediction
Amid
Brewing
SOL
Spot
ETF
In
North
America

The
Solana
price
is
trading
with
a
bearish
bias,
with
the
one-day
timeframe
showing
a
series
of
lower
highs.
This
is
as
the
altcoin
continues
to
consolidate
within
a
descending
parallel
channel,
with
bearish
dominance
tossing
SOL
below
the
centerline
of
the
channel.

Based
on
the
outlook
seen
in
the
chart
below,
the
Solana
price
could
record
more
downside
momentum.
For
starters,
the
Relative
Strength
Index
(RSI)
shows
that
buying
pressure
is
weakening,
with
the
momentum
indicator
way
below
the
mean
level
of
50.
In
the
same
way,
the
Moving
Average
Convergence
Divergence
(MACD)
is
also
below
the
orange
band
of
the
signal
line
and
in
negative
territory.

If
selling
pressure
increases,
the
Solana
price
could
extend
the
fall
to
test
the
$120.83,
potentially
creating
a
buying
opportunity
here
before
the
next
leg
up.
In
a
dire
case,
the
altcoin
could
slip
below
this
level
for
a
sweep
of
the
buy-side
liquidity
residing
below
this
buyer
congestion
level.

GeckoTerminal:
SOL/USD
1-day
chart

On
the
other
hand,
traders
capitalizing
on
the
current
downtrend
to
buy
SOL
cheap
could
trigger
a
recovery.
If
an
uptrend
ensues,
a
solid
move
above
the
centerline
of
the
channel
would
be
ideal.

While
a
stable
close
above
the
$176.86
level
would
be
ideal,
the
bearish
thesis
would
only
be
invalidated
if
the
Solana
price
achieves
a
candlestick
close
above
$204.05.

Clearing
the
aforementioned
range
high
would
provide
the
jumping-off
point
for
a
new
cycle
top.

For
now,
however,
the
possibility
of
a
spot
Solana
ETF
in
North
America
has
driven
trader
interest
in
Sealana
(SEAL),
a

SOL
meme
coin
that
has
only
four
days
left
in
its
presale.

Renowned
YouTuber
Crypto
Mischief
sees
it
as
a
potential
next
Dogwifhat
(WIF),
a
leading
SOL-based
meme
coin
that
exploded
upon
launch.

Promising
Alternative
To
Solana

SEAL
powers
the

Sealana
ecosystem,
a
character
based
on
a
chubby
seal
that
is
fully
immersed
in
the
Solana
Sea.

Once
sleek
and
agile,
SEAL
is
so
absorbed
in
Degen
trades
that
he
abandons
the
initial
figure
of
his
youth
for
a
diet
of
chips
and
tinned
tuna.

New
Meme
Crypto
‘Sealana’
Attracts
Whales
As
Solana
Price
Recovers.

#SolanaMemecoin

pic.twitter.com/zqP73U7Mk3

—
TechStory
(@TechStoryin)

May
5,
2024

The
Sealana
presale
has
hurtled
past
$5
million
as
investors

buy
SEAL
for
only
$0.022.
If
you’d
like
to
join
the
project,
do
so
quickly
before
it
closes
in
four
days.

Visit
and
buy
Sealana
tokens
here.

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