The race to launch crypto exchange-traded products (ETPs) in the United States is heating up, with asset managers rushing to take advantage of a more favorable regulatory climate. According to Bloomberg analyst Eric Balchunas, there are now more than 155 crypto ETP deposits covering 35 different digital assets. He expects that number to exceed 200 over the next year, signaling what he described as a “total land rush.”
Regulatory Optimism Sparks ETF Boom
Last month, the SEC presented Generic registration standards provide clear guidelines for crypto ETF submissions. If an application meets these criteria, it can bypass the traditionally lengthy 19b-4 approval process. This simplified framework has encouraged asset managers to submit a record number of filings this year.
Besides Bitcoin and Ethereum, the big winner among altcoins seems to be Solana (SOL). The token has seen 23 ETF applications match Bitcoin in volume and surpass other major cryptocurrencies like XRP, Cardano and Dogecoin.
According to data from The Future Of Money, pending SEC approvals could soon include altcoin ETFs for LTC, SOL, XRP, ADA, DOGE and HBAR, with review deadlines between October 2 and 26. These developments reflect a growing appetite among institutional investors for exposure to a diversified crypto portfolio.
Solana Price Outlook and Market Catalysts
Despite regulatory enthusiasm, at Solana the price has struggled in recent days. SOL is trading at $184.65down 4.64% in 24 hours and more than 8% last week. However, traders believe a rebound could be imminent. Market analyst Matthew Dixon noted that SOL recently rebounded from a local low of $172, showing the start of an impulsive upward move.
Source: X
According to his analysis, the correction phase appears to be over and the bullish momentum could soon resume. Key resistance levels stand at $196.7, $203, and $211.5, with a potential target near $235 if momentum picks up. Additionally, macroeconomic events such as the upcoming interest rate decision, government funding progress, and ETF approvals could act as major catalysts for Solana’s next leg up.
