Top Stories of The Week
SEC to reject bids for spot Solana ETFs — Report
The United States Securities and Exchange Commission is set to reject applications in line for spot Solana exchange-traded funds (ETFs).
The agency has notified at least two of five issuers seeking approval for a Solana ETF, according to Fox News reporter Eleanor Terrett.
“The consensus here, I’m told, is that the SEC won’t entertain any new crypto ETFs under the current administration,” Terrett said on Dec. 6.
Several asset management firms have recently filed for SOL ETFs, aiming to provide investors with direct exposure to Solana’s market.
VanEck was the first asset manager to submit a 19b-4 application with the agency on June 27, shortly followed by 21Shares on June 28 and Canary Capital in late October. Following Donald Trump’s win in the Nov. 6 US presidential elections, Bitwise and Grayscale also applied for a SOL fund.
Ether price returns to $4K for the first time since March
The price of Ether has broken past the $4,000 price level following months of lackluster price performance — reclaiming levels not seen since March 2024.
According to data from CoinMarketCap, the price of Ethereum is up 2.8% on the day and has gained 10.7% over the past week.
Ether’s positive performance follows months of trading below its 200-day exponential moving average, which is a dynamic level of support. Currently, the relative strength index is approximately 71 and entering into overbought territory.
From August until early November, Ether experienced sideways price action until the current rally ignited on Nov. 6 in response to Donald Trump’s electoral victory.
Analysts believe that the price of Ether could reach $7,000 during the current market cycle, bolstered by record inflows from exchange-traded funds and a robust ecosystem of developers building on the Ethereum blockchain.
Bitcoin price hits $100K…
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