Franklin Templeton files 8-A for spot Solana ETF, indicating imminent debut

The Dogecoin ETF has had a disappointing launch, failing to meet market expectations and underperforming compared to the XRP and Solana ETFs, which have seen significant inflows. The Dogecoin ETF only managed to generate $1.41 million in trading volume on its debut day, raising concerns about its attractiveness to investors.

Crypto exchange-traded funds (ETFs) have seen a significant rebound with combined inflows of $260 million, indicating a renewed interest among investors in cryptocurrency products. This resurgence follows a period of substantial outflows, particularly for Bitcoin and Ether ETFs, which faced billions in redemptions.

Institutional investors have recently shifted their focus from Bitcoin, Ethereum, and Solana to XRP, resulting in significant outflows from the former and inflows into the latter. A CoinShares report highlighted that Bitcoin, Ethereum, and Solana experienced outflows totaling $1.27 billion, $589 million, and $156 million respectively, while XRP saw a notable increase in investments.

Upexi has successfully raised $23 million to expand its treasury holdings in Solana (SOL), aiming to acquire additional SOL tokens and enhance its digital asset portfolio. This strategic move reflects Upexi's commitment to strengthening its position in the cryptocurrency market.

CME Group has announced that spot-quoted futures for XRP and Solana will launch on December 15, pending regulatory approval. This development signals a significant step towards integrating these cryptocurrencies into mainstream financial products, potentially attracting institutional investors.

Solana's price has plummeted over 56% from its all-time high of $294 in January, currently facing significant resistance that prevents recovery attempts. The cryptocurrency's recent performance reflects a broader downturn in the market, with fears of a potential crash to $100 as selling pressure continues.

Monad (MON) successfully launched its Layer 1 blockchain, resulting in an 80% surge in its token price within 24 hours, making it the top performer among the top 100 cryptocurrencies by market capitalization. The token reached an all-time high of $0.045 after a challenging token sale that raised $95 million of a $187 million target.

Solana's price is approaching the $140 mark, buoyed by significant institutional demand and recent inflows of $53 million into spot SOL exchange-traded funds (ETFs). The cryptocurrency is currently trading at approximately $139, reflecting a 1.4% increase over the past 24 hours, as it navigates within its seven-day trading range.