SOL Could Approach Its 2021 ATH as Grayscale Files For a Solana ETF with NYSE

Key Points

SOL recorded an ascendant trajectory today, as Grayscale filed for a Solana ETF.
Also, today Pump.fun transferred 200,000 SOL worth around $464,000.

As the altcoin season debuts, more digital assets are recording new ATHs. Solana (SOL) also seems to be on the right path to surpass its previous 2021 ATH, amidst crypto market optimism and various other factors.

SOL Gets Closer to Previous ATH

At the moment of writing this article, SOL is trading above $232.6, up by over 3.5% in the last 24 hours. SOL has a market cap of over $110.57 billion.

SOL recorded a price rebound from yesterday’s dip to $217 levels and a market cap of $103 billion.

SOL reached its ATH on November 7, 2021, at almost $258 and the digital asset might be on the right path to surpassing it soon. SOL got close to its previous 2021 ATH on November 22, when the coin reached a price of over $256.

Optimistic factors could bring a new historical peak for SOL.

Grayscale Files for a SOL ETF with NYSE

Among the factors that could push SOL’s price higher is the fact that Grayscale filed for a Solana ETF with NYSE, as revealed by a recent 194-b filing with the SEC.

Considering the upcoming Trump administration that could bring more crypto-friendly policies and the upcoming change of the US SEC chair, SOL ETFs could see approval at least sometime next year.

Also, after Bitcoin ETFs recorded a huge success which led to the rise in Bitcoin’s price to new ATHs this year, Solana ETFs could experience the same path, following their launch.

In other recent related news, today, on-chain data analyst Yu Jin’s monitoring notes revealed that Pump.fun saw an accelerated frequency of selling SOL.

Since this morning, 200,000 SOL have been transferred to Kraken. According to the same on-chain notes, Pump.fun has received a total of about 1.6 million SOL in fee income.