 
 
The native token of the Solana community shattered a contemporary all-time excessive above $260, boosted by latest crypto-wide bullish efficiency and SOL exchange-traded fund filings flooding in after Gary Gensler’s departure.
The brand new milestone comes two years after the implosion of Sam Bankman-Fried’s crypto empire FTX and Alameda Analysis, which had drastically weighed on Solana’s value as they have been key backers of the SOL ecosystem.
SOL Hits Recent File
Solana has notably been one of the top performers on this bull cycle. The token rose above the earlier $260 document mark immediately, setting a contemporary all-time excessive of $262.93, per knowledge from CoinGecko.
SOL has gained 7% on the day, 21% during the last week, and 54% on the month. And to place Solana’s enormous rebound in perspective, the coin’s one-year progress at present stands at 367.9%, greater than quadrupling in worth over the course of that interval.
Solana had plunged to as little as $8 in late 2022 after the scandalous collapse of the FTX digital asset change as SOL had shut ties to the agency and its now-convicted former CEO Sam Bankman-Fried. Nonetheless, the crypto has made an enormous comeback within the final two years.
 
The newest bounce above $260 earlier immediately got here after the announcement that Gary Gensler, the SEC chair who spearheaded the company’s crypto crackdown, will go away workplace on the day of Donald Trump’s presidential inauguration.
Potential SOL ETFs
On Thursday, Cboe BZX Trade submitted 4 19b-4 filings for companies to introduce spot Solana exchange-traded funds (ETFs) in america.
The 19b-4 filings differ from S-1 registration types, which VanEck and 21Shares already submitted for his or her potential Solana funds in June and Canary Capital filed in late October.
As ZyCrypto reported, Bitwise registered a statutory belief in Delaware for a spot Solana ETF on Wednesday, indicating that it might be part of the SOL ETF race. Bitwise then formally filed its S-1 registration assertion on Nov. 21.
If the SEC provides its inexperienced gentle, Bitwise, VanEck, 21Shares, and Canary Capital could have their ETFs listed on the Chicago Board Choices Trade’s BZX Trade.
In the meantime, after the launch of spot SOL ETFs in Brazil, many crypto business individuals have been optimistic that comparable SOL ETF merchandise will quickly debut within the U.S.
