Cryptos show early gains after Van Eck applies for Solana ETF
Bitcoin and other cryptocurrencies saw gains early Friday, with Solana leading after a U.S. application for a spot ETF linked to it. Bitcoin rose to a session high of $62,179 before pulling back. The cryptocurrency is down from its mid-March high of nearly $74,000. The decline followed news that the failed crypto exchange Mt. Gox will return $8.5 billion in crypto to creditors. Solana surged over 9% yesterday to $149 after VanEck filed for a Solana ETF. VanEck is the first to apply for a Solana ETF in the U.S. Ether, up 2.3% to $3,448, has risen 80% over the past year. The SEC approved rule changes to allow spot Ether ETFs, with final approvals expected this summer. Other altcoins, including Cardano and Dogecoin, also saw gains.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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