VanEck Hints at Solana ETF Amid Buzz at Bitcoin Conference as SOL Overtakes BNB

VanEck is hinting at a Solana ETF again, sparking interest at the Bitcoin Conference as SOL surpasses BNB in market cap.

Investor Interest Peaks with VanEck's Solana ETF Hint

The spot Ethereum ETFs have been trading for about a week on Wall Street, and now investors are looking forward to the next crypto ETF, which is expected to be Solana, the second-largest altcoin. Intriguingly, the colossal asset manager VanEck is once again dropping hints that a spot Solana ETF might be in the works, per Coingape.

Quite a few people at the Bitcoin conference have asked about Solana, according to a recent tweet by VanEck.

Market Anticipates SEC Approval for Solana ETF

Before the spot Ether ETFs were live, VanEck filed their Solana ETF in the latter month of June, as is well known. According to VanEck's last tweet, the altcoin is doing well, and the SEC will likely approve a Solana ETF without any trouble with liquidity.

On the other hand, major asset managers like BlackRock aren't exactly rooting for the expansion of crypto exchange-traded funds like Solana.

While speaking at the Bitcoin Conference, Robert Mitchnick, Head of Digital Assets at BlackRock, stated that the SEC would likely establish boundaries. He went on to say that no altcoin accounts for more than 5% of the whole crypto market cap, with Ethereum being the only exception. Therefore, in his opinion, the market needs fewer crypto ETFs.

Solana Surpasses Binance Coin in Market Cap

Solana (SOL) is now the fourth biggest cryptocurrency by market cap, surpassing Binance Coin (BNB), according to the most recent update. In the most recent run-up, SOL has succeeded in surpassing BNB for the first time in four years.

The price of Solana has been steadily rising for the last two weeks, increasing by nearly 35%. During the same time frame, BNB, The Binance Coin, has seen a 10% increase.

With the Solana TVL increasing by 15% this month, popular crypto analyst Rekt Capital noted that Solana has held above the support and is aiming for its next move to $202.

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