The NASDAQ has been integrating cryptocurrency with traditional investing since 2025. Recently, on June 7, the exchange submitted a standard K-8 fund filing indicating that its Nasdaq Crypto US Settlement Price Index (NCIUS) will include four additional cryptocurrencies: Cardano, Solana, Stellar Lumens, and XRP Ledger, alongside Bitcoin and Ethereum. This development paves the way for the potential launch of the first-ever multi-asset cryptocurrency ETF, underscoring the growing prominence of cryptocurrencies in the financial sector. The announcement follows news that BlackRock's Bitcoin ETF has swiftly reached $70 billion in total assets, highlighting a broader acceptance of cryptocurrencies beyond just Bitcoin and Ethereum.
Solana, currently valued at $83.7 billion in market capitalization, stands to benefit significantly from a potential listing on the NASDAQ and inclusion in an ETF. The growth prospects for Solana may increase even further with vital upgrades such as Solaxy, its inaugural Layer-2 solution, aimed at enhancing scalability and reliability.
Exchange-Traded Funds (ETFs) are collections of assets traded on exchanges, allowing everyday investors to gain exposure to these assets without the need for direct purchases. This accessibility makes ETFs particularly attractive for retail investors who may find managing a crypto wallet challenging. Additionally, institutional investors utilize ETFs to diversify their portfolios. The introduction of Bitcoin and Ethereum ETFs last year resulted in noticeable price surges for both cryptocurrencies, significantly boosting demand. Presently, Bitcoin ETFs represent 6% of the total Bitcoin market capitalization, while Ethereum ETFs account for 3.13%, both contributing substantial buying pressure. A potential multi-asset ETF from NASDAQ could similarly benefit all included cryptocurrencies, including Solana.
Historically, Solana has depended on a single Rust-based validator client called Agave, which was primarily maintained by Anza, with over 90% of stake weight operating on Jito-Solana, a fork that focuses on Maximum Extractable Value (MEV) infrastructure. While this consolidation improved performance and staking returns, it raised concerns about network disruption from a single point of failure. However, several competing clients are now emerging: Jito-Solana, the original MEV solution; Firedancer, developed by Jump Crypto for enhanced performance; Sig, a rewrite by Syndica optimized for dApps; Paladin, a lightweight MEV-focused fork; and TinyDancer, an open-source light client for mobile environments. Collectively, these clients signify a maturing Solana ecosystem, each addressing specific challenges and contributing to greater resilience and decentralization, setting the stage for further advancements in a network that has recently seen successful meme coins and new crypto presales.
Amidst these developments, an innovative improvement is on the horizon with the introduction of Solaxy, the first-ever Layer-2 solution for Solana. Investors have already invested $46 million in the Solaxy ($SOLX) presale, drawn by the promise of a Layer 2 solution that addresses persistent issues like transaction failures and network congestion. Solaxy combines Ethereum's scalability and reliability with Solana's faster speeds and lower transaction costs. The $SOLX token will be multi-chain, launching on Ethereum before bridging to the Solaxy Layer-2 upon full deployment. The project is currently progressing well, with the Solaxy Block Explorer and Bridge operational on the testnet, and the token launch approaching with only six days remaining in the presale. Early investors interested in the next generation of Solana development can refer to our guide on purchasing Solaxy tokens, which are currently priced at $0.00175, with forecasts suggesting potential growth to $0.025 by the end of 2025, representing a 1300% increase.
With NASDAQ listing Solana in its cryptocurrency index and the prospect of an ETF in the near future, institutional demand for Solana and Solaxy could see a significant rise. As Solana transitions from being merely fast to a foundational element of crypto finance, investors are encouraged to conduct thorough research before investing; however, they should act quickly, as the opportunity to participate in the Solaxy presale is limited.
