Solana (SOL) tested its all-time high resistance of $259.9 on Thursday after recent reports suggested that the Securities & Exchange Commission (SEC) has begun reviewing proposals for Solana exchange-traded funds (ETFs).
Solana surged over 7% as it looks to flip its all-time high resistance of $259.9, eyes $459 price level. The rally follows news of the SEC engaging with issuers concerning the potential approval of a Solana ETF . VanEck, 21Shares and Canary Capital have all filed S-1 applications for Solana ETF , with Bitwise also showing interest. Solana tested its all-time high resistance of $259.
SOL/USDT weekly chart The rally comes after the SEC began reviewing applications and a possible launch in 2025 for a Solana ETF, according to Fox Business's Eleanor Terret. Terret notes that exchanges such as Cboe may file a form 19b-4 on behalf of issuers over the next few days. The form 19b-4 filing proposes changes to trading rules and is essential for listing crypto ETFs.
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