Current Solana Price: SOL Cryptocurrency May Surge With ETFs Anticipated in 2025

Sunday, November 24, 2024, the price of the Solana (SOL) cryptocurrency is currently at US$ 247.56, down nearly 5%.
On November 21, 2024, there was a significant development in the cryptocurrency market as four applications for spot Solana exchange-traded funds (ETFs) were officially filed with the U.S. Securities and Exchange Commission (SEC). These applications were submitted by Cboe BZX Exchange on behalf of asset managers Bitwise, VanEck, 21Shares, and Canary Capital.
On the same day, news broke about the departure of SEC Chairman Gary Gensler, who is expected to step down from his position in January, coinciding with the inauguration of President-elect Donald Trump in 2025.
The U.S. Securities and Exchange Commission (SEC) has made substantial progress in discussions with issuers regarding the possibility of launching a Solana spot ETF (exchange-traded fund). This move comes as the SEC begins reviewing S-1 filings, indicating a potential increase in the acceptance of cryptocurrencies in the mainstream financial market.
According to Fox Business journalist Eleanor Terrett, well-known investment management firms like VanEck, 21Shares, and Canary Capital are in the process of submitting S-1 documents for the Solana ETF. Bitwise Asset Management has also recently expressed its intention to join this competition by filing an S-1. The growing number of companies seeking regulatory approval highlights the increasing interest in cryptocurrency-based financial products.
“SCOOP: Talks between @SECGov staff and issuers looking to launch a $SOL spot ETF are “progressing” with the SEC now engaging in S-1 filings, according to two people familiar with the matter. These people say there’s a “good chance” we’ll see some 19b4 filings from…” —Eleanor Terrett (@EleanorTerrett) November 21, 2024
Furthermore, Terrett suggests that the next step, involving 19b-4 filings on behalf of the issuers, looks promising. This step is crucial for the final approval of the ETF, which could mark a new era of cryptocurrency investments through traditionally regulated vehicles.
Solana (SOL) Technical Analysis Today
In the current market outlook, the Solana cryptocurrency is trading down 5%, approaching the $245 zone, after reaching its all-time high resistance of $264.39.


Last week, the price of Solana (SOL) started a bullish rally and stabilized above the $230 level. Currently, Solana is displaying positive signs after surpassing its previous all-time high (ATH). The next major resistance level is around $280, and if it surpasses this level, the price could attempt to reach $320.
On the downside, the first support level is now near $230. The next significant support level is $210, below which the price may drop to $195.