Solana ETF Filing Fails to Incite SOL Past Initial Excitement
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Spot Bitcoin ETFs boosted the industry’s mainstream credibility. The market appears to be pessimistic about Solana ETFs at this time. Short-term price movements cannot be used to gauge ETF approval. The approval of U.S. spot Bitcoin ETFs in January 2024 marked a watershed moment for the crypto industry. Bitcoin surged to a new all-time high within two months of the ETFs going live, with unprecedented net inflows demonstrating pent-up demand and solidifying BTC's status as a legitimate investment asset. The success of Bitcoin ETFs paved the way for altcoin ETF applications, with Ethereum products next in line for potential
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