Prominent crypto proponent and SkyBridge Capital founder Anthony Scaramucci took to X today and said we will get a Solana (SOL) ETF (Exchange Traded Fund). Scaramucci’s comment comes on the heels of positive strides in the Ethereum (ETH) spot ETF arena. Yesterday, the US SEC (Securities and Exchange Commission) approved the issuance of Spot Ethereum ETFs.
Also Read: SEC Approves All Spot Ethereum ETFs
Apart from his crypto ventures, Scaramucci served as White House Director of Communications from July 21 to July 31, 2017.
Earlier this week, Brian Kelly, founder of BKCM, made a similar prediction, stating that Bitcoin, Ethereum, and Solana are the big three of this cycle.
Will Solana (SOL) rally with the Ethereum ETF approval?
Source – Binance Academy
According to X user ‘borovik,’ the Ethereum ETF will send SOL to $1000. Reaching $1000 from current levels would translate to a growth of about 506%.
Also Read: Solana: Can SOL Claim $200 Before the End of May 2024?
However, the Ethereum ETFs have not had the same impact as the Bitcoin ETFs. The US SEC approved 11 spot BTC ETFs earlier this year, sending the crypto market into a bull run, with BTC hitting a new all-time high in March. The Ethereum ETF, however, has not had the same impact. It is possible that the hype around the ETH ETF was a ‘sell the news’ event. However, it is also possible that the rally has been delayed, and will pick up momentum soon.
Also Read: Solana (SOL) to Follow Bitcoin, Ethereum as the Next Crypto ETF?
According to CoinCodex, Solana (SOL) could surge to $196.41 on June 17, 2024. Hitting $196.41 from current levels would translate to a growth of about 18.79%.
Source: CoinCodex
Changelly, on the other hand, paints a more bullish picture for SOL. The platform anticipates SOL to reclaim the $200 level in June, hitting $201.87 on June 16, 2024. Reaching 201.87 from current levels would translate to a growth of nearly 22%.