Exchange Traded Funds (ETF) have been a highlight for the cryptocurrency community. Top cryptocurrencies witnessed the entry of institutional investors. To join the ranks of Bitcoin (BTC) and Ethereum (ETH) several other assets were seen lining up. More recently, an XRP and Solana Futures ETF launch is being planned by the massive American financial services company CME Group. Amidst this, the market was speculating on the price of these assets after the ETF is approved.

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A Dive Into The Solana Market

Solana (SOL) has undoubtedly been a top performer this week. The asset’s seven-day price change stands at a positive 24% which is much higher than the rest of the market. Sadly strong bearish winds hit the SOL network bringing down the cryptocurrency. At the time of writing, the altcoin was trading at $248.02 after recording a drop of nearly 3% over the past 24 hours.

Earlier this week, the altcoin hit an all-time high of $294.33. The asset currently trades 15% below this peak. The community believes that SOL could bounce back and move beyond $300 once the ETF garners approval. The firm’s website states that subject to regulatory approval, the CME Group intends to introduce these futures ETFs on February 10.

Also Read: CME Set to Launch XRP and SOL Futures in February – Major Market Shift Incoming

Price Prediction

It looks like the Solana market will have to wait longer to reach $300. Over the past few months, the community has been heavily betting on the altcoin to reach $500. According to data from CoinCodex, the highest that SOL will trade in the month of February is $270. This marks an 8.98% spike from its current price level.

It should be noted that the approval of an ETF could act as fuel to a potential rally. As SOL surged by over 20% in the past few days alone, the community is confident about Solana’s ascent to $500.

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