Reasons to trust
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SEC’s filing cabinets have to be fairly full these days, and their “paper-hold” stacks become dangerous.
The major $SOL ETF competition takes place at the most visible edge of the crypto ecosystem. Farther down there is another race, with Snorter poised to corner the market in the fast world of Telegram’s Solana Meme Coins.
It is two ends of the same spectrum, and speaks to the increasing strength and versatility of the Solana ecosystem.
Investco Galaxy Solana ETF list ready
Why the SolanaETF race? Partly due to the huge success of Bitcoin and Ethereum ETF:
$IBIT: iShares Bitcoin Trust, $7.6b Billion Under Control (AUM) $FBTC: Fidelity Wise Origin Bitcoin Fund, $20.20b $GBTC: Grayscale Bitcoin Trust, $19.6b Aum $Etha: ishares Ethereum Trust, 3.9B aum $Ethe: Grayscal
It’s not surprising that more players are ready to join the game, especially as the areas of traditional finance (Tradfi) and decentralized finance (Defi) move the evercloser together.
Currently, only $BTC and $ETH have single asset cryptographic ETFs, but the pending pile of filings includes everything from $XRP to $SOL to the first-ever NFT ETF, to Pudgy Penguins ($Pengu).
Also, if a single asset cryptographic ETF is rolling, the institution is not waiting for the SEC. They are already beginning to move to multi-asset ETFs.
Convert existing funds to multi-asset ETFs
So far, one of the Holdups is that the SEC lacks clear rules regarding Crypto ETFs, even after $BTC and $ETH approvals have progressed. The question is, will the SEC retain approval until it creates a new rule? Or do they first approve and develop a rule set when they go?
There is time pressure here at work. Grayscale wants to convert digital large cap funds (GDLCs) into ETFs, with the deadline being July 2nd. The fund already owns many crypto assets, including $XRP, $SOL, and $ADA.
If the conversion is approved, look for someone else to follow. Bitwise to Hasdex investment managers have plans to convert other funds into multi-asset ETFs containing crypto.
Funds are at the pinnacle of the world of finance and investment, and all approved individuals will slightly increase Solana’s long-term outlook. But there’s another reason why I’m excited about Solana.
Solana Meme Coin Trading’s enthusiastic, fast-paced world world has gotten a tool that brings much needed clarity and makes 10x or 100x more easy.
Snorter Token ($Snort) – One bot that controls them all for meme coin trading on Telegram
What do you need to find and exchange memes on Telegram? You need:
Get in and out at the right time from Lightning’s fast transactions and swap auto snipers, lag pulls, honeypots and front running trades
Thankfully, the trader currently has a Snorter Bot. This is a Meme Coin style trading bot specifically designed to trade low-cap Solana Memes on Telegram.
The $SNORT token is fed to the bot, providing quick trade execution and lowest possible rates. The project’s pre-sale has already raised nearly $1.3 million in weeks, showing widespread support.
The roadmap includes launching bots in Solana, but expanding to EVM compatible chains after launch.
In the meantime, the plan will feature a token bridge and a built-in telegram dashboard. No more avoiding telegram tokens. Traders can jump in with confidence in Snorter.
For more information, please visit the Snorter website.
Solana ETFS marks the next stage in crypto adoption
As the plan progresses, even the ETF submission rate shows how quickly crypto adoption is moving.
From the Wall Street boardroom to Telegram Chat, Solana is becoming more and more accessible to investors in all stripes.
Keep an eye on Snorter.
But remember – always do your own research. This is not financial advice.
