One of America’s largest banks, Morgan Stanley, announced that they will be launching a SOL-linked exchange-traded fund (ETF), favoring a bullish Solana price prediction as Wall Street’s appetite for cryptos keeps growing.
The financial institution filed the required paperwork to list both Solana and Bitcoin ETFs on Tuesday. These are the first crypto-related products of this kind that they will bring to the U.S. market.
Solana ETFs have attracted $801 million just 6 months after the first of these funds was launched country.
The largest of these ETFs in terms of assets under management (AUM) continues to be Bitwise’s BSOL ETF with $730 million.
Staking rewards are an attractive feature for investors. At the time of writing, BSOL’s staking yield sits at 6.75%. These rewards are added to the fund’s assets daily and should boost the price of the ETF in the long run.
Solana Price Prediction: SOL Eyes $230 as Positive Momentum Accelerates
Morgan Stanley’s decision to launch a Solana ETF gives this altcoin a strong credibility boost. It also provides further confirmation of Wall Street’s strong interest in tokens beyond Bitcoin.
In the past week, SOL has gained 9% and currently sits at $138. Meanwhile, trading volumes stand at $5.5 billion, accounting for 7% of the asset’s market cap.
The daily price action shows that SOL broke out of a falling wedge pattern. This is a bullish setup that, once broken, commonly confirms a trend reversal.
The near-term target for the token would be the $160 level, as the market will likely retest the 200-day exponential moving average (EMA).
Meanwhile, if SOL surpasses its 200-day EMA, it may reach $200 quickly, aided by growing institutional demand on Wall Street.
As interest in the Solana ecosystem keeps growing, top crypto presales like Bitcoin Hyper ($HYPER) could eventually draw Wall Street’s attention as well. This is a powerful Solana-based Bitcoin L2 that will make it easier for BTC investors to earn passive income on their assets.
Bitcoin Hyper ($HYPER) Leverages Solana’s Efficiency to Boost Bitcoin’s DeFi Ecosystem
Bitcoin Hyper ($HYPER) brings real utility to Bitcoin by unlocking fast, low-cost DeFi through Solana’s high-speed infrastructure.
With the Hyper Bridge, BTC holders can tap into the Hyper Layer 2 directly from the Bitcoin network, without ever giving up custody.
That means lending, staking, and earning yield on BTC for the first time.
As more Bitcoin flows into the Hyper L2, demand for $HYPER is set to surge.
Investors have already poured in over $30 million, spotting the potential to revive Bitcoin’s ecosystem and open the door to true on-chain utility.
To buy $HYPER before its presale ends, simply head to the official Bitcoin Hyper website and link up a compatible wallet like Best Wallet.
You can either swap USDT or SOL for this token or use a traditional bank card to complete your purchase.
Visit the Official Bitcoin Hyper Website Here
The post Solana Price Prediction: Morgan Stanley Just Filed for a SOL ETF – Is This the Beginning of Wall Street’s Next Crypto Obsession? appeared first on Cryptonews.
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