New Solana ETF Filed | Key Points | Oct. 31, 2024

GM. Welcome back toย BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: are Solana ETFs coming?
Plus the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates ๐
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $72,298.09, up 0.1% over the last 24 hours.
- Ethereum (ETH):ย $2,5648.41, up 0.2% over the last 24 hours.
- Solana (SOL): $175.02, down 3.0% vs the previous day.
Trending Coins Update
- Ethervista: $33.24, up 41.9% vs the previous day.
- Phil: $0.0380, up 0.6% over the last 24 hours.
- Maker: $1,263.74, up 8.6% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Canary Capital Joins U.S. Spot Solana ETF Race Following Bitcoin, Ethereum Fund Approvals
Nashville-based asset manager Canary Capital has filed with the U.S. SEC to launch a spot Solana ETF, the third firm to propose a Solana-focused fund after VanEck and 21Shares.
ETF Background: If approved, the Canary Solana ETF would allow investors to gain exposure to Solana (SOL) without directly holding the cryptocurrency, with shares tracking the coinโs market value, Decrypt has reported.
The numbers:
- Solana is the fifth-largest digital asset cryptocurrency.
- It has a market cap of $82.3 billion and is up 389% in the last 365 days.
Why is Solana an attractive asset?
- The blockchain is known for low fees and high transaction speeds.
- Solana is viewed as a competitor to Ethereum.
- Canary Capital emphasized Solanaโs transaction volume and active user metrics as indicators of its strong DeFi ecosystem.
However: While the U.S. SEC has approved Bitcoin and Ethereum ETFs, in the past it questioned whether cryptocurrencies like Solana are actually securities.
- Thus an earlier report suggested that if a Solana ETF will be approved, it will likely be if there is a new administration.
- Coincidentally, it’s now only 8 days away from the U.S. elections.
Let’s go to the news recap today:
Philippine Crypto News ๐ต๐ญ

- Gabby Dizon, YGG co-founder, will speak at the Binance Blockchain Week Dubai.
- Paytaca launched a promo giving 20% cashback on every order, delivery, or in-store purchase with their partner merchants.
- BitPinas article: BSP granted digital bank GoTyme a VASP license.
Noteworthy ๐
Key updates and announcements from around the crypto and blockchain world:
- As Hong Kongโs financial sector downsizes, Animoca Brands expands with a new 28,000 square-foot web3 office.
- Donald Trump’s crypto venture, World Liberty Financial, plans to launch its own U.S.-dollar-backed stablecoin.
- Bitget appointed Min Lin, former regional vice president for Latin America at Binance, as its chief business officer to lead expansion efforts in the region.
Educational Corner ๐

- Another update! Before the month concludes, check out the October update on theย list of crypto airdrops to watch out for in 2024.
Regulation Watch ๐
Stay informed about the latest regulatory updates and what they mean for you:
- Blockchain Association and Crypto Council support Beba’s lawsuit against the SEC, seeking clear regulations on token airdrops.
- Hong Kong is considering tax breaks for virtual assets, alongside regulatory updates for stablecoin issuers and trading services.
- Bolivia’s Banco Bisa launched a custody service for Tether’s USDT, enabling clients to securely buy, sell, and transfer the stablecoin.ย
Community Spotlight ๐ฆ

Meet Emerson Fonseca (LinkedIn): He is one of the prominent community leaders in the web3 space in the Philippines.
- He is the Core Team Lead of Superteam Philippines.
- Fonseca is also the CEO of The Blockchain Lead Organization & Knowledge Center (The BLOKC), a blockchain education-focused platform.
- Recently, these two organizations organized the Blockchain Campus Conference 2024.ย
More Web3 and AI News ๐ก
Discover the latest in web3 and AI innovation.
- Astria launched its main network for a decentralized sequencing layer.
- Solana’s DEX Raydium achieved a record daily transaction volume of $1.8 billion on October 23, surpassing its previous high of $1.65 billion from December 2023.ย
- bitSmiley.io raised $10 million to enhance its Bitcoin-backed DeFi solutions and expand its ecosystem.
Web3 Gaming Section ๐ฎ
The future of web3 is gaming, and here are the latest news.
- Lamborghini, in collaboration with Animoca’s Motorverse, is set to launch exclusive Revuelto NFTs on Coinbase’s Base blockchain on November 7, 2024.
- The Sandbox partnered with King Kong of Skull Island to create a new virtual realm, AdventureWorld, allowing users to buy and monetize LAND inspired by King Kong.
- Parallel will host its Parallel League Championship in Las Vegas on March 1-2, 2025, featuring a $250,000 prize pool.ย
Event Announcements ๐
Donโt Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- PH Startup Week: November 11. 2024
- Manila Bootcamp | Hackers League Hackathon: November 15, 2024
- YGG Play Summit: November 19-23, 2024
- Base Manila Meetup: November 20, 2024
Stay Connected:
- Follow us on Twitter ๐ฆ
- Check us out on Facebook!
- Join our Telegram group for real-time discussions!
Weโd love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: New Solana ETF Filed | Key Points | Oct. 31, 2024