Mike Novogratz: SEC Will Approve Spot Solana ETFs

According to experts in the crypto community, the SEC is likely to approve spot Ethereum ETF applications, leading to the potential launch of a similar instrument focused on Solana.

Mike Novogratz, CEO of Galaxy Digital, holds the same view and recalls the notable increase in SOL’s value in 2023 where it went from $21 to over $200, demonstrating an 850% rally.

Despite the competitiveness in the top five altcoins, experts believe that Solana has a strong chance of entering the American stock market.

Novogratz predicts that with the launch of a crypto fund investing in SOL, institutional capital will flow into the digital currency, driving its price up.