{"id":26965,"date":"2025-01-28T10:45:23","date_gmt":"2025-01-28T10:45:23","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=26965"},"modified":"2025-01-28T10:45:23","modified_gmt":"2025-01-28T10:45:23","slug":"solaxy-presale-surges-to-15-million-amidst-anticipated-etf-induced-bull-market","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/solaxy-presale-surges-to-15-million-amidst-anticipated-etf-induced-bull-market\/","title":{"rendered":"Solaxy Presale Surges to $15 Million Amidst Anticipated ETF-Induced Bull Market"},"content":{"rendered":"\n

Fund manager Tuttle Capital has submitted requests for ten altcoin exchange-traded funds (ETFs) to the US Securities and Exchange Commission (SEC). This includes popular cryptocurrencies like Chainlink ($LINK) and Cardano ($ADA), as well as meme coins such as Bonk ($BONK) and Official Trump ($TRUMP).<\/p>\n

These applications arrive after a shift in SEC leadership, with the pro-crypto Mark Uyeda taking over from crypto skeptic Gary Gensler.<\/p>\n

<\/span>Exploring New Opportunities in Fund Management<\/span><\/h2>\n

Tuttle Capital<\/a> currently has several leveraged ETFs for Bitcoin ($BTC) and Ethereum ($ETH). The firm is now seeking approval for ten 2x ETFs that will include tokens like $XRP, $SOL, and $MELANIA, which are designed to deliver double the daily performance of the underlying digital assets.<\/p>\n

There has been ongoing speculation regarding $SOL and $XRP ETFs, but the idea of meme coin ETFs is a novel and untested approach.<\/p>\n

Recently, REX Shares also filed for a $DOGE ETF<\/a>, possibly considering it as a more stable investment compared to $TRUMP or $MELANIA.<\/p>\n

Bloomberg Intelligence notes that this could be an exploratory move by issuers to gauge the new SEC administration’s stance on such products.<\/p>\n

The pivotal question remains \u2014 where will the regulators establish their boundaries?<\/p>\n

<\/span>Potential Impact of Tuttle Capital’s ETFs on Meme Coins Like Solaxy ($SOLX)<\/span><\/h2>\n

If Tuttle Capital gains SEC approval, these ETFs might be available for trading by April.<\/p>\n

This could create a benchmark for meme coin ETFs and potentially lead to similar products for numerous other tokens.<\/p>\n

Utility-driven meme coins may have a greater likelihood of receiving approval. One such contender is Solaxy ($SOLX)<\/a>, which serves as a Layer-2 solution for Solana, featuring a Pepe mascot.<\/p>\n

Solaxy aims to enhance transaction efficiency by mitigating network congestion, lowering fees, and accelerating transfer speeds through its side chain. As the first Layer-2 solution for Solana, it occupies a unique position.<\/p>\n

This distinct functionality has propelled Solaxy forward, attracting over $15.6 million during its presale. Currently, one $SOLX token is priced at $0.001618, providing an affordable entry point for investors.<\/p>\n

<\/p>\n

Exchange listings often elevate token values, and Solaxy has plans for this as well.<\/p>\n

The introduction of a $SOLX ETF could lead to substantial price increases.<\/p>\n

For context, consider $BTC. The initial spot $BTC ETF application was made in 2013, yet it wasn’t until 2021 that the first ETF was launched in Canada. Following its introduction, $BTC’s price surged from $33K to $57K within a month, reaching $60K shortly after.<\/p>\n

\"Bitcoin
\nWhen BlackRock submitted its first US $BTC ETF application in June 2023, $BTC was priced at $27K. Following the launch of U.S. $BTC ETFs in January 2024, the token climbed to $100K.<\/p>\n

It seems Solaxy is poised to launch just as institutional interest begins to rise, potentially benefiting its early backers with enhanced returns.<\/p>\n

<\/span>Can Meme Coin ETFs Become Widely Accepted?<\/span><\/h2>\n

The influence of the new pro-crypto SEC leadership is already visible. While the SEC has yet to approve Tuttle Capital’s ETFs, they also haven\u2019t been rejected, indicating a favorable outlook.<\/p>\n

The cryptocurrency market might be on the verge of a new bull cycle, allowing institutional investors to evaluate projects like Solaxy<\/a> based on technological merit instead of merely its meme appeal.<\/p>\n

Nonetheless, it’s essential to acknowledge that the crypto landscape is highly volatile, and assured profits are not a guarantee. Always conduct your research and maintain composure.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fund manager Tuttle Capital has submitted requests for ten altcoin exchange-traded funds (ETFs) to the US Securities and Exchange Commission (SEC). This includes popular cryptocurrencies like Chainlink ($LINK) and Cardano ($ADA), as well as meme coins such as Bonk ($BONK) and Official Trump ($TRUMP). These applications arrive after a shift in SEC leadership, with the […]<\/p>\n","protected":false},"author":14,"featured_media":26966,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Solaxy Presale Surges to $15 Million Amidst Anticipated ETF-Induced Bull Market - Bitrabo","description":"Fund manager Tuttle Capital has submitted requests for ten altcoin exchange-traded funds (ETFs) to the US Securities and Exchange Commission (SEC). This include"},"footnotes":""},"categories":[316],"tags":[10798,503,2223,2386,1749,953,10725],"class_list":["post-26965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-15m","tag-bull","tag-etfs","tag-presale","tag-reaches","tag-run","tag-solaxy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=26965"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/26966"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=26965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=26965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=26965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}