![Mike Novogratz: SEC Will Approve Spot Solana ETFs Mike Novogratz: SEC Will Approve Spot Solana ETFs](https://www.allcryptocurrencydaily.com/wp-content/uploads/2024/06/t-1024x682.jpg)
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.